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Where Taxpayers and Advisers Meet

Goodwill amortisation

Chanmuganathan
Posts:144
Joined:Wed Nov 24, 2010 2:39 pm
Goodwill amortisation

Postby Chanmuganathan » Tue Jul 24, 2018 9:27 am

Purchased goodwill amortisation has been disallowed in the tax computation for last 15 years. How do I correct this?
Thanks.

greybags1
Posts:47
Joined:Tue Jan 31, 2017 10:41 am
Location:NE Scotland

Re: Goodwill amortisation

Postby greybags1 » Wed Jul 25, 2018 1:08 pm

re tax - get current year right. Amend and refile online previous year. Submit an overpayment relief claim for the next 3 previous years. Don't think you can go back beyond 4 years.

re accounts - I'm assuming you have a 'material' error so a prior year adjustment will be needed.

greybags1
Posts:47
Joined:Tue Jan 31, 2017 10:41 am
Location:NE Scotland

Re: Goodwill amortisation

Postby greybags1 » Wed Jul 25, 2018 1:47 pm

re my previous reply - I'm assuming it's the right kind of GW that would allow a tax deduction for its amortisation. It may be 'old' goodwill hence the disallowance.


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