Thank you for your question.
In order for me to respond to you more precisely, I would require few more information from you please:
(1) What does the company do?
(2) Is he/she director/shareholder (what % shareholding, if any) of the company?
(3) Was his/her business (sole trader or partnership) incorporated in 2006 and thus goodwill created? When the business, in the first place, was established/started?
(4) Was this £170k valuation just a 'good guess' or with some basis reflecting reasonable market value? Was any formal/structured valuation done at the time?
Thank you and look forward to hearing from you.
Thank you for the additional information.
Apology for the delay in getting back to you; as I was away for a client meeting.
Unfortunately, the answer is no.
No tax relief is available for goodwill amortisation, in this case, because of 'connected party' situation and the value of the goodwill was not based on the independent open market value.
Also, this case appears to be more of a 'personal goodwill' (as this is 'his' sort of personal photography business!) rather than 'business goodwill' as such. This will further deny the relief.
I trust the above clarifies.