Retirement plan

A few years ago I incorporated my accountancy practice before the capital gains tax window closed. I sold it including a substantial figure for goodwill to a new limited company. At the same time I gave a minority shareholding in the company to each of my two “first lieutenants”.

I paid the appropriate capital gains tax at the time and there were no negotiations over the value of the goodwill with HMRC. It was a fair valuation but it was mine and therefore subjective.

I left the consideration for the sale on loan. Since then I have been drawing against the loan and the profits of the company have been liable to corporation tax. So the loan goes down and the reserves (agreed to belong to me) keep increasing.

I do not write down goodwill in the balance sheet of the company because I take the...