No, it’s not really goodbye. Goodwill hasn’t gone away, it’s still there all right. A company that acquires a business is still required to write down the value of the purchased goodwill in its accounts. But from 8 July 2015, it will no longer be able to deduct the amounts written off when calculating its taxable profits.
This isn’t great news. Not great news at all – it was actually hidden away towards the bottom of the list on the relevant GOV.UK webpage. I only found it easily because I’ve got into the habit of looking for those Budget measures to be effective immediately, so I can start writing my own Budget page.
So what does it all mean? And why do I find myself laughing?