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Hi, I’m confused about goodwill treatment for ROR and BADR. Is it qualifying business asset for these reliefs? Does it depend on type of the business ( unincorporated or company)?
Can gain on intangible assets be only rolled over against another intangible asset? thanksBAD relief is for sole traders only
Ch14 shows what you can have relief on – assets etc – and when/how
You will not have to deal with intangible assets in the exam (its rarely if ever askied in a question so dont worry)
The questions are seeking to establish if you understand the basic rules and can you apply them in a basic situation – just remember to show all your workings.
ROR is covered in the same chapter and is the only relief for companies – again show the whole process.
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