Accounting for goodwill has always been one of the more controversial issues faced by accountants for many years, explains Steve Collings.
Hope someone can help.
Had a shock today and learnt that my business could of claimed "Goodwill" when I went limited. I was a sole trader for around 20 years.
Sole trade and partnership both combined in 2009 and a new company was incorporated. Directors are husband and wife, both actively involved in the business.
We have a situation where HMRC is arguing that the Goodwill Paid by our client on an arms length transaction relating to a Care Home Business should be NIL when applying Intangible legislation for
In an arm's length transaction BizALtd buys business activity of BizBLtd (client list, debtors, creditors, and stocks) and BizBLtd stops trading in this line of biz.
Please can someone advise how accumulated amortisation is treated on the sale of goodwill?
The goodwill was purchased in 2006 and has been amortised annually subsequently.
If a holding company acquires a subsidary that has negative reserves due to cumulative losses, how is this investment accounted for within the holding company accounts?
Steve Collings tackles one of the topics that causes the most trouble for practitioners: when and how to measure and recognise goodwill in a client’s financial statements.