A limited Co has sold their business. The sales price was £64K for goodwill and £6k for the assets.
The company purchased the goodwill back in 2003 for £38k and amortised it in their accounts over 10 years. However the amortisation figure was always added back in the CT calculation as it was not allowable back then.
The cost of selling the business has gone through as expenses and I have put in a balancing charge for the £6K of fixed assets as all fully depreciated and written off in the tax returns but in the CT return do I put the sale of the goodwill as taxable @ £64K or can I deduct the original £38K and put it in as £26K.