Hi,
Company A purchased the share capital of Company B.
Imediately afterwards Company B's trade and assets were hived up into Company A.
Company B is now dormant, Company A owns all income and assets previously held by Company B.
The deal was seller driven, i.e.if Company A wanted B, it would have to purchase shares and not assets.
Company A now has goodwill relating to the purchase of the Company B business.
My question:
Is amortisation on the goodwill allowable for Corp Tax.
I understand that the goodwill was not purchased from Company A, but was hived up into it by accounting entry, however it was still goodwill paid by a Company A to purchase the business from an unconnected Company B.
Thanks
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