Impairment of non-deductible goodwill
Goodwill of £10 million (not tax-deductible) arose on a business combination in 2006. In accordance with IAS 12 no deferred tax liability was recognised on the taxable temporary difference of £10 million that arose on initial recognition of the goodwill. During the year ended 31 December 2013, following an impairment test, the carrying amount of the goodwill is reduced to £6 million.
No deferred tax is recognised on the new temporary difference of £6 million, because it is part of the temporary difference arising on the initial recognition of the goodwill. [IAS 12.21A].
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