A limited company client sold the assets of his hairdressing business in June 2011. A chargeable gain arose on the sale of goodwill, originally purchased in 2000.
The tax software we have shows the chargeable gain to be proceeds less original cost. At the risk of sounding thick, can indexation relief be claimed for all or part of the period from purchase to sale?
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Yes
Has your software been updated with the RPI for June 2011? If not, the software cannot calculate the indexation allowance.