Goodwill valuation

[saddler14]

Three years ago we bought a company and paid £25K for the goodwill, which was immediately written off in our accounts and claimed as an expense for Corporation Tax purposes.
We are now thinking about actually valuing our own goodwill and showing an intangible asset on the balance sheet, revaluing every 3-5 years. We realise there will be no CT relief available, but is it possible that HMRC would argue that our valuation of goodwill would include the bought goodwill and seek to disallow the original write-off?

[tom 7000]

Dont waste your time, accounting rules and regulations don't allow you to do this. So your query doesn't arise.

I just wondered why you didn't just email your accountant and ask him rather than ask on here, doesn't he have a free email advice service like us?

tom@ttca.co.uk