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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 ACIS
994 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 ACIS
994 satisfied customers
Hi Tony, my question is regarding Annual Investment Allowance.
Hi Tony, my question is regarding Annual Investment Allowance. Client bought a £10k asset in July 13 as a sole trader and on 31 August 13 ceased trading as a sole trader and transferred her assets to … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,063 satisfied customers
Hi I am currently in the process of selling my business. I
Hi I am currently in the process of selling my business. I incorporated the business 3 years and put a figure of £20,000 goodwill in the accounts and amortized over 20 years, for the first 3 years I d… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACIS
994 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
7,063 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
Accountant
FCCA FCMA CGMA ACIS
994 satisfied customers
HI SAM. IS IT CORRECT THAT GOODWILL AMORTISATION CAN BE OFFSET
HI SAM. IS IT CORRECT THAT GOODWILL AMORTISATION CAN BE OFFSET AGAINST CORPORATION TAX? GOODWILL CALCULATION COMPLETED BY MY ACCOUNTANT WHEN I CONVERTED FROM SELF EMPLOYED TO LTD CO IN 2013.… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,063 satisfied customers
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
Accountant
FCCA FCMA CGMA ACIS
994 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
Accountant
Master's Degree
972 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
Accountant
Master's Degree
972 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
Master's Degree
461 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
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
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
7,063 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
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
7,063 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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