Partnerships/Goodwill
30/07/1996
Query
Allowability of losses in respect of goodwill written down to nil in balance sheet.
Decision
Where a partnership has written off goodwill in the balance sheet and a partner makes a subsequent disposal of his share in partnership assets, including goodwill, the partner is treated as realising a loss on the goodwill if he has a cost greater than nil.
Capital Gains Tax
Section 538, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:G.36(A)