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HMRC publish guidance on corporation tax relief on goodwill and relevant assets

HMRC have published new guidance on changes to corporation tax relief on goodwill and relevant assets for businesses and tax agents.

From 1 April 2019 the corporation tax relief restriction rules for some acquisitions of goodwill and relevant assets changed. Companies can now get relief on purchases made on or after 1 April 2019 if the:

  • goodwill and relevant assets are purchased when a business is bought with qualifying intellectual property;

  • the business is liable to corporation tax;

  • relevant assets (including goodwill) are included in the company accounts.

View the guidance at Corporation Tax relief on goodwill and relevant assets.

This article was correct at the date of publication. It is intended as an aid and cannot be expected to replace specific professional advice and judgment. No liability for errors or omissions will be accepted. It is the responsibility of those using the information to ensure it complies with the law at the time of use and that it is used in line with relevant rules and regulations governing the subject matter in question.

© Croner-i Ltd, 2019