Belated claim for tax releif on goodwill amortisation | AccountingWEB

Belated claim for tax releif on goodwill amortisation



New Ltd client with goodwill sat on the balance sheet generated on incorporation in 2006. I have just identified that although the goodwill was generated by a related party (previously a partnership) the partnership business did not start trading until after April 2002. Therefore the business could have claimed tax releif on amortisation.


However as this has not been done what are people's view on trying to now make a claim for rax releif:

1) claim from the first year of trading as Ltd adoptoing an appropriate amortisation period and make amendments to previous CT returns or,

2) claim tax releif going forward writing off over a suitable time scale? or,

3) Write off all goodwill in current year?





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Marmite |
Marmite's picture

In which case


What would be the situation if goodwill was in the accounts?

newmoon |