Thank you, Patrick. The transaction was before April 2010. I haven’t yet received the evidence regarding the goodwill / land values so have yet to ascertain whether there was a supportable view.
The subsequent reduction in the value of goodwill is one matter; it is the increase in the land value in the accounts that raises a worry for me. If the purchaser took the subsequent view that the goodwill value was too high then an impairment charge could have been made, effectively writing off part of the cost of purchase.
I presume that if there is insufficient evidence to support the land value, and the SDLT return position is not rectified, then there may be reporting obligations under the ML Regulations?