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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
1,374 satisfied customers
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
Accountant
FCCA FCMA CGMA ACG
1,374 satisfied customers
I'm jacqui, i'm looking accounting entries lease premium,
Customer: hi i'm jacqui, i'm looking for the accounting entries for a lease premium, lease of 15 years, premium 57,000, rental paid in addition, can you help? … read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
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
7,089 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
7,089 satisfied customers
How can goodwill be calculated on a consultant surgeons practice
How can goodwill be calculated on a consultant surgeon's practice who is self-employed, works in full-time private practice and has no NHS salary?… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
I have a client who has just leased a property the lease will
I have a client who has just leased a property the lease will be amortized over 10 years. Do I simply add this amortization back, believe I cant claim any form of capital allowances.… read more
Sam Pathak
Sam Pathak
MBA FCCA CTA
Master's Degree
472 satisfied customers
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
Hi, my question concerns amortisation of goodwill. We have
Hi, my question concerns amortisation of goodwill. We have a Ltd Company which was formerly a Partnership and on the advice of an accountant, independently valued goodwill of £250K was realised upon t… read more
mark25551
mark25551
Audit & Accounts Manager
ACCA
197 satisfied customers
I am looking at purchasing a business where the price will
I am looking at purchasing a business where the price will involve significant (for me) goodwill. That business is a sole trader; I am a small ltd co. Looking at the tax implications, am I right in as… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 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
324 satisfied customers
Could you please clarify the tax rules on Goodwill for me as
Could you please clarify the tax rules on Goodwill for me as I believe they have now changed and I wanted to make sure I am correct. In the past I believe Goodwill was not allowable for tax purposes, … read more
CCTax
CCTax
Bachelor's Degree
324 satisfied customers
Is Goodwill that is acquired on the purchase of a company subject
Is Goodwill that is acquired on the purchase of a company subject to tax relief and is the value amortised?… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
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
7,089 satisfied customers
is it possible to claim capital or some other allowances on
is it possible to claim capital or some other allowances on purchased goodwill - this arises by virtue of a corporate services practice acquiring another practice - there were no tangible assets acqui… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
On 1/12/08 we transferred our business into a limited company
On 1/12/08 we transferred our business into a limited company and there was £30K of goodwill transferred to the Limited Co which our accountant advised we could draw tax free (tax paid). Ufortunately … read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
my client has created Intellectual property (after 2002)by
my client has created Intellectual property (after 2002)by way of training guides which are sold as training guides through his own company (he is a shareholder) can we value the IP as an intangible a… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 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
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
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