You only need to know that what is the tax treatment of capital losses? and this is for your real business or some kind of assignment?
I want to know that is this your real life case or some kind of assignment questions?
Are you sure about that the 20k goodwill could be used as capital gain?
Let me check and will come back to you soon, thanks.
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Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.
The news is not good. Here is the Gov UK advice of this subject:
'When you report a loss, the amount is deducted from the gains you made in the same tax year.
If your total taxable gain is still above the tax-free allowance, you can deduct unused losses from previous tax years. If they reduce your gain to the tax-free allowance, you can carry forward the remaining losses to a future tax year.'
So the remaining loss can be carried forward indefinitely. It could be used for example to offset gains on stocks and shares for example. There is a danger here that it may simply be money sunk and lost.
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I am so sorry to have to rain on your parade.
Thank you for your support.