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? thanks
Ask the Tutor ACCA TX-UK
Goodwill as a qualifying asset
BAD 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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