Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

What is goodwill?

27 August 2010
Issue: 4270 / Categories: Tax cases
Greenbank Holidays Ltd (TC416)

The appellant company Greenbank Holidays which operated camping holidays in Europe was owned by a UK listed company.

In 1998 another tour operator K Ltd was acquired. In 2003 Greenbank bought K’s business including the goodwill.

The appellant company claimed a deduction for the goodwill in its accounts under FA 2002 Sch 29. HMRC refused the claim on the basis that the claim for goodwill had not been created within the meaning of Sch 29 para 118(1)(a) (now CTA 2009 s 881 and s 882) on or after 1 April 2002.

The company appealed saying that the goodwill had been created after that date.

The First-tier Tribunal said that for...

If you or your firm subscribes to, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.

back to top icon