Tax treatment for goodwill
[email protected] Registered Posts: 2 New contributor 🐸
I have goodwill in previous year accounts being written off and I am doing tax comp for that year, I am thinking to add this back to profits (as i am not sure about origin of that transactions) although I am aware that only amortisation / impairment is allowable for tax purposes for goodwill.

Any view on the above?, would appreciate any response,
thank you


  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    Is it a limited company or a sole trader?

    Goodwill write off may be allowable for a limited company but there are certain rules depending on when the goodwill was created. You need to have a look at the revenue guidance relating to it.
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