Buying intangible assets

The Tax Cost of Getting a Good Name for Your Business  January 18, 2012 – 12:21 pm
Document Sample scope of work template. Agreed minutes (17/7/06)

If you’re thinking of buying an existing brand from another business in order to boost your company’s profile, the good news is that there’s a tax-efficient way to do it.

Since 2002, a company can obtain corporation tax relief on the amount of depreciation applied in the company’s accounts to an intangible asset, such as a brand name. The amount you write off against your profit each year is based on generally accepted accounting principles. For example, where your asset has an indefinite life, relief is given at 4% per year on a straight-line basis. And in the year you acquire the asset the norm is to write a full year’s depreciation into those accounts.

These rules only apply to companies and in respect of intangible assets purchased or created by them afterMarch 31 2002. The tax relief applies not only to purchase costs but also to any development costs. However, what is important to note here is that these tax concession does not apply where an intangible asset is acquired from a related third party. A related third party includes a close company buying intangible assets from an individual who is a shareholder in that company.

If you are thinking of buying another business talk to your local accountant about the goodwill treatment involved. You can find your local accountant from Find My Local accountant which is a UK Accountants Directory

Source: Accountancy Articles - Most Recently Added

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Summer Reading....

L.A. new money capital of California
High-tech downfall loosened Bay Area's grip on state economy
Sam Zuckerman, Chronicle Economics Writer Sunday, August 5, 2001
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Los Angeles -- Just a few blocks from the gleaming office towers of downtown lies a scruffy commercial neighborhood that shows h... avail
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©2001 San Francisco Chronicle Page A - 1 Chronicle SectionsMagazineLivingSportsTravelReal EstateInsightBusinessBook ReviewsAt WorkPinkNews

Here's a good one

The Tomato Story
An unemployed man is desperate to support his family. His wife watches TV all day and his three teenage kids have dropped out of high school to hang around with the local toughs. He applies for a janitor's job at a large firm and easily passes an aptitude test.
The human resources manager tells him, 'You will be hired at minimum wage of $5.15 an hour. Let me have you...What, you don't have e-mail? No computer? No internet? Just think where you would be today if you'd had all of that five years ago!'
'Ha!' snorts the man. 'If I'd had e-mail five years ago I
would be sweeping floors at Microsoft and making $5.15 an hour.'
Which brings us to the moral: Since you got this story on line, you're probably closer to being a janitor than a millionaire

Corporate recruting info

I have been in Human Resources Specializing in Staffing for years and I can tell you if you want to get into retail fashion there are 2 ways to go about it and depend on how much experience/education you have. The first thing I would do is research (go to their websites)retail & clothing companies, find out what corporations own them and if the home offices or distribution centers are in your ar...even open your mouth. If you cannot find a company in the area, just go to the stores and talk to them. Let them know you love the store, love the company and would love the opportunity to work there. Don't just fill out an application and leave. If you connect with an employee or manager, they will be more likely to fight for you. Hope this has helped. Long answer, but not quickie fix question.

To Buy Or Not To Buy?


Last month the Bay Area's engorged real estate market had begun to show signs of slimming from the dot-com-bust starvation diet, but amazingly, up to that point, the market had remained robust in the face of massive layoffs, crumbling companies and falling stock prices. As many local real estate agents cheerfully observed, the market was holding steady, resisting a lemminglike leap off th... equipment or even cars. They shelter us from nature, from invasion of privacy and, sometimes, from our own paranoid fantasies. When you buy a home, you're not just throwing money into the world for personal pleasure or business enterprise -- there's a feeling that you're investing (not speculating) in the immediacy and future of your life. And that's a feeling more and more people may long for.

Xyratex Ltd Announces Results for the Second Quarter Fiscal Year 2012  — Sacramento Bee

Acquisition of intangible assets, (3500), (4700). Acquisition of business, -, (6084). Net cash used in investing activities, (10464), (22009). Cash flows from financing activities: Proceeds from issuance of shares, 601, 2. Repurchase of shares, (3574 …

DragonWave Announces Financial Results for First Quarter Fiscal Year 2013  — SYS-CON Media

... (220) (449) Acquisition of intangible assets (466) (314) Purchase of short term investments - (22432) Maturity of short term investments - 17508 ---------------------------------- (686) (5687) ---------------------------------- Financing Activities …

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