Write off of goodwill allowable

Write off of goodwill allowable

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Goodwill transferred from sole trade to Ltd Co. Obviously connected parties.

Annual amortisation - is it allowable for tax purposes?

I seem to remember that up to 2002 it wasn't, but after that it was!

What is the position now, please?

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By gbuckell
14th May 2012 10:19

Correct

If the sole trader business started after 31/3/02 then the company can claim tax relief for amortisation even though acquired from a connected party.

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