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can you amortise goodwill purchased from an overseas group company and claim a corporation tax deduction for this
Hi - many thanks for your reply
My understanding is that transfers of goodwill between group companies are tax neutral and the company buying would inherit the base cost from the other group company so when an overseas parent company in the same group sells goodwill to the other UK group company, then it is still fine to amortise the intangible at 4% of cost and take a corporation tax deduction for it?? - so are you saying in this instance the goodwill is whatever it was purchased for even though the purchaser is a related party and within an overall group?
This company has been amortising at 4% for two years, but has never claimed a tax deduction - what is the position relating to the amount they have not claimed in previous years?
Many thanks - one final point to clarify -- is this only relevant if the goodwill was created after 2002?
thanks again for your help I will most certainly rate you