Purchase of business Goodwill

[robinss]

Hi,
I have recently bought a business with a bank loan. The amount paid included stock, and Goodwill.
My first question is, how do I account for the amount of money paid for Goodwill, is this classed as an expense of the business ?
Second question, how do I account for the loan re-payments ? I understand that the interest is a business expense, but what about the amount to reduce the loan ?

[DIY Accounting]

Goodwill is usually written off as an expense in the accounts but is not allowed for tax deduction so company accounts package writes it back in the corporation tax calculation.

Enter loan received in bank account coded to long term creditor. When repayments are made code interest to bank interest and capital to long term creditor in the bank account spreadsheet.