Section 715 | Application of this Part to goodwill

(1)This Part applies to goodwill as it applies to an intangible fixed asset.

(2)Subsection (1) is subject to any indication to the contrary (see, in particular, Chapter 15A (debits in respect of goodwill and certain other assets)).^F1F2

(3)In this Part “goodwill” has the meaning it has for accounting purposes (and includes internally-generated goodwill).^F3

(4)For the purposes of this Part, goodwill is treated as created in the course of carrying on the business in question.^F4