I paid an overall price for the business consisting of equipment (assets) and goodwill. Can I claim capital allowances? 

Arthur Weller replies: 

I don't know exactly what kind of 'equipment' you are referring to, but it might be useful to look at HMRC’s Capital Allowances manual about a purchaser claiming capital allowances on purchased fixtures. It is also possible to make an election under CAA 2001, s 198 when fixtures are purchased together with a commercial building. Also, look at HMRC’s guidance at CA23750 regarding second-hand long-life assets. However, the key point here is that the contract should apportion an amount to the equipment, independent of the goodwill.