goodwill on bs in partnership accs

Jane e

Hi
Fairly new mip.
I have a new partnership client with goodwill b/f on balance sheet.
Not too sure but thought only incorporated clients had goodwill.
Do i write it off?
Thanks in anticipation

groundy

Goodwill can be acquired by any business. The partnership that is your client may have purchased the goodwill when setting up in business.

The goodwill should be amortised as in previous periods.

Anne Boleyn

Goodwill

Hi

Just to add that there isn't any tax relief for the partnership so it gets added back in the tax comp.

Jane e

Thank you both for responding.