Please could somebody help with this problem.
My client, a limited comany bought a franchise for £7k, hoping to get a new line of income for the company.
Unfortunatley soon after, due to the housing market crash, the franchise company went bump.
The question is can the Company get tax relief on the lost fee. Would it be dealt with as a write off of goodwill, and would 100% be avle to be claimed in the year it was purchases.
Thanks for any comments.
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