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Goodwill - tax deductible in this instance?

Acquired on 10/9/03

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Hi everyone

I have a very small ltd co client who incorporated on 10 Sept 03. I took over the accounts as of a couple of years ago.

Goodwill has been introduced of £5k in the accounts and a note has been put on the account to say 'no amortisation has been made on goodwill, as the director deems that the full original cast is being maintained' 

My question is - if we begin to amortise this goodwill now, given that it was acquired between 1 April 2002 and 2 December 2014, can it be deductible against the corporation tax?

TIA

Replies (7)

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By Paul Crowley
21st Oct 2020 12:31

Anon again

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Replying to Paul Crowley:
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By Mr_awol
21st Oct 2020 13:06

Yup. Last time i put a post up about how this is an abuse of anon and imploring others not to answer the OP got uppity about it.

The site rules actually do say that anonymous posting is reserved for sensitive matters and an abuse of this will not be tolerated. In fact, posts like this clearly include no sensitive or identifiable data and it's hard to see why they are posted anon. I asked two posters last week to justify use of anon and one (Accountant 2510) said they just didn't realise, the other (Truecon) said they can do what they want and if we don't like it don't answer. The latter is exactly what's wrong with this insistence on #BeKind. It means people can come on here and be [***] to us, but heaven forbit we say something they don't like.

I suppose we could try reporting all future threads inappropriately posted as anon. The problem is that most are probably one-hit-wonders so even if they get a warning not to do it again, it probably wont actually change anything.

For any admins watching - why is, for example, the following thread not an abuse of the anonymous feature?
https://www.accountingweb.co.uk/any-answers/cjrs-for-a-non-trading-company

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Psycho
By Wilson Philips
21st Oct 2020 13:05

Supply the rest of the relevant information and someone might give you an answer.

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By Paul Crowley
22nd Oct 2020 04:53

The Anon gives a problem
No idea if you are an accountant, bookkeeper, student, or the'client' who just read something good on the internet.
Non anon means we see your prior Q and answers and know at what level to pitch a reply

So many Anons claim to be acting for a 'client' but with so little knowledge.

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By Duggimon
21st Oct 2020 15:01

You could always claim relief but file the return anonymously.

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Replying to Duggimon:
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By Paul Crowley
21st Oct 2020 15:17

Brilliant

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By Diana de Vos
18th Nov 2021 14:58

Hello
Has anyone actually answered this question?

Sorry if you have but I cannot see the answer, I have a very similar scenario, where the previous accountants have claimed goodwill deduction for the FA 2019 and 2020, There is still £30,000 goodwill showing on the accounts.
Can this still be claimed for the accounts ended 31 March 2021?
Thank you in advance

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