Amortisation of pre-2002 goodwill in Ltd accounts

Amortisation of pre-2002 goodwill in Ltd accounts

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If a partnership who's goodwill was created over the last 15 years and hence prior to 2002 were to dispose of the goodwill to a newly formed Ltd Co should the goodwill transferred be amortised in the accounts over a suitable period or simply be recorded at transfer cost until such time as this were disposed by the Ltd. I realise that there would be no corporation tax releif on any amortisation. I beleive the goodwill must be amortised under GAAP (not so under International Standards)

What impact if the goodwill is valued from time to time to arrive at a share valuation to allow a markter price to be attached to the shares? Does any change in the value of goodwill need to be reflected in the accounts if the original goodwill is amortised or is this simply a choice of accounting policy availabe to the directors?

thank you

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