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Purchased goodwill
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Purchased goodwill
Practical Law UK Glossary 5-107-7086
(Approx. 3 pages)
Glossary
Purchased goodwill
On an acquisition of a business, the difference between the value of the assets acquired and the price paid (if positive), see
Financial Reporting Standard (FRS)
10. Certain countries (for example, the Netherlands, Germany and Italy) give tax relief for the
amortisation
of purchased goodwill. In the Autumn 2018 Budget, it was announced that a limited relief for purchased goodwill would be introduced in the UK with effect from 1 April 2019. For more information on purchased goodwill, see
Practice note, Intangible property: tax: Definition of "intangibles" and "goodwill"
and
Background to the taxation of IP
.