Goodwill sold

Qualified2018

Hi Everyone
A company sold its customer/client base during its cessation period. for £30k .There was no corresponding intangible asset on the balance sheet prior to this. No initial cost therefore. Can someone confirm the accounting and tax treatment for this please? Do i need to take indexation allowance into this too?

MarieNoelle

The indexation allowance is applied on the initial cost so if your cost is nil there is no point applying the IA.
The chargeable gain is therefore 30K.