Summer Finance Bill: Amortisation of corporate goodwill

Pete Miller

Pete Miller (The Miller Partnership) writes on the abolition of the tax deduction for the amortisation of corporate goodwill.

The abolition of the tax deduction for the amortisation or impairment of purchased goodwill by companies is a major makeover of the corporation tax landscape.

Back in FA 2002 the government bought in two major changes to the corporate tax landscape. The first was the substantial shareholdings exemption which meant that trading companies or groups selling trading subsidiaries or sub-groups would usually not pay any corporation tax on any gains arising. At the same time the special corporation tax regime for intangible fixed assets was introduced. For most people the main effect of this new regime was that if a company were to buy a business...

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Pete Miller (The Miller Partnership) writes on the abolition of the tax deduction for the amortisation of corporate goodwill.

The abolition of the tax deduction for the amortisation or impairment of purchased goodwill by companies is a major makeover of the corporation tax landscape.

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes: