How does a soletrader deal with goodwill?

Hi

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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Goodwill

James Hellyer |
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