Angels and Demons and taking risks, page-41

MazC, agree with you on most points, but I thought goodwill write down would not be tax deductible, because it's an accounting adjustment and with no cash impact, where as tax is done on cash basis.

Unless UK tax rules are different...

IMO that Goodwill is always subject to impairment tests, so rather wait to see if impairment is likely year on year, they did it in one big go, and then the only way out is up. Which works well for the new CFO, as it gives him a clean slate to start with.