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Related UK Tax Questions
I want to know can I claim a tax relief on the purchase of
HelloI want to know can I claim a tax relief on the purchase of goodwill in a ltd company? Can I claim tax relief on the loss on sale of goodwill ?… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
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My client purchased business & property in 2004. 'nss in Ltd
my client purchased business & property in 2004. B'nss in Ltd Co cost G'will £350k, F&F £50k and Property purchased by directors ptey £800k...total Cost £1.2m. The HMRC had after a long negotiation ha… read more
bigduckontax
bigduckontax
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Hi Tony, a goodwill amortisation question. A soletrader started
Hi Tony, a goodwill amortisation question. A soletrader started in business in 1997, had good times & bad. He incorporated a Ltd company in Nov 2010 & started trading in Jan 2011. The goodwill was cal… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
IS IT CORRECT THAT GOODWILL AMORTISATION CAN BE OFFSET AGAINST
IS IT CORRECT THAT GOODWILL AMORTISATION CAN BE OFFSET AGAINST CORPORATION TAX? I CONVERTED FROM SELF EMPLOYED TO LTD COMPANY IN 2013 & MY ACCOUNTANT CALCULATED £80K OF GOODWILL BASED ON PREVIOUS YEAR… read more
bigduckontax
bigduckontax
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Dear XXXXX I have a client who has traded as a sole trader
Dear XXXXX I have a client who has traded as a sole trader who has converted to a limited company. I understand that the sole trader business can be valued and the valuation treated as goodwill in the… read more
bigduckontax
bigduckontax
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Company A acquires company B (not related and in business prior
Company A acquires company B (not related and in business prior to 2002). Company A then hives up all trade and assets of Company B to Company A. The excess paid over fair value amounts is treated as … read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
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When is goodwill tax deductible? I have never dealt with it
When is goodwill tax deductible? I have never dealt with it before and the rules seem incredibly complex and vague. I have a client that was advised to take £170k goodwill out of his company which he … read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
Hi My son purchased a small business for £15,000 with a loan
Hi My son purchased a small business for £15,000 with a loan of the same amount. The consideration was £3000 for Plant and equipment and £12,000 for goodwill. Is he able to claim tax allowances for th… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Briefly, company A acquired a restaurant business comprising
Briefly, company A acquired a restaurant business comprising the freehiold and plant and equipment and goodwill from company B for £95,000 of which £30,000 was paid upfront and the balance was to be p… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
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Can you give me an understanding of Goodwill on incorporation,
Can you give me an understanding of 'Goodwill on incorporation', please? And where best can I read up about this? Thank you.… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
Hello, need some help please: Computations for Short CT600
Hello, need some help please: Computations for Short CT600 Return 1st year trading of company, goodwill bought from 3rd party, market value of company decreased so w/o goodwill within the 1st year. On… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
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Company A purchased the share capitals and businesses of Company
Company A purchased the share capitals and businesses of Company B and Company C. The sole shareholders of Company B and Company C were given equal shares in Company A. However, at the time of the com… read more
berduchwal
berduchwal
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What tax relief is there available for a service company purchasing
What tax relief is there available for a service company purchasing intangible assets in this case goodwill . Is the annual amortised amount an allowable deduction from profit before calulation of CT… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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A friend of mine is running a small business and wishes to
A friend of mine is running a small business and wishes to incorporate. I understand that he can transfer the business to a limited company with a valued goodwill. The consideration can be left on a l… read more
mark25551
mark25551
Audit & Accounts Manager
ACCA
197 satisfied customers
Could you help me with several questions regarding a partnership
Could you help me with several questions regarding a partnership incorporating? Pertinent facts:- Partnership formed 1984. Two partners 80%/20% split Goodwill can be valued at £1,000,000 – profits for… read more
CCTax
CCTax
Bachelor's Degree
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Is there capital allowances on purchased goodwill for limited
Is there capital allowances on purchased goodwill for limited company, and if so availabe since when this rule started ? if no capital allowances is available what other tax relief is allowed for purc… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Can you please confirm the position on Capital Allowance on
Can you please confirm the position on Capital Allowance on the following expenditure: 1. Purchasing a "Franchise Agreement". I am considering purchasing a business which will be charged as: Franchise… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
What are the cases supporting transferable goodwill which is
What are the cases supporting transferable goodwill which is recognised as a tangible asset. I am looking for a parallel where a franchise sole trader sold to a limited company newly formed to tae ove… read more
TEAP007
TEAP007
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