Tax treatment for goodwill
iroslaniec@wp.pl
Registered Posts: 2 New contributor 🐸
in Tax
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
Any view on the above?, would appreciate any response,
thank you
0
Comments
-
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.0
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