Angels and Demons and taking risks, page-66

Brad, You are right! Sorry I jumped to conclusion based on my Understanding on Aus standard.

I found an useful site as well:http://www.rossmartin.co.uk/compani...dwill-and-the-intangibles-regime#overview-faq

And what's more interesting, tax deduction from goodwill amortisation and impairment is not allowed for companies acquired after 8 July 2015.

Now is PSD acquisition in May 2015 a coincident? Or did SGH had that all up their sleeves all along way?
I wouldn't be surprised if they had that as a hidden reason to push for acquisition prior July, and then do the write down which means 14-15% discount in cash terms for the PSD acquisition (approx 70%impairment for good will in PSD * 20%UK tax rate), paid by the UK tax office.

Wow, another piece of the jig saw puzzle ha. This is great news cos I initially though goodwill is not tax deductible. And even greater news because SGH outsmarted the tax system and got a legitimate tax deduction, which is only limited to those who bought a business prior July 15. Talk about coincidence, or is it tax planning?

Anti SGH'ers, you can't win against this law firm, you can't!