How does a soletrader deal with goodwill?
I am completing accounts/SA for a sole trader who has bought a business that has goodwill included in their balance sheet valuation. I wanted to check what the correct treatment was for amortising goodwill for a sole trader? Whether there were any specific write down rules?
I also understand that tax relief can not be claimed on the goodwill amortisation? Could somebody clarify the situation for me?
Thank you for your help
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