How can it be called a capital asset when ultimately it is only good will, just a list of customers, I would certainly argue that the "round" is no more than a business expense.
That would be very different if as well as a list of customers you were also buying solid assets, van, equipment, poles, pumps, ladders, filtration systems and so on.
The "round" itself is not a fixed or tangible asset.
I would further imagine that it would depend on the individual tax inspector that looks at your accounts in depth, some might agree with the interpretation I have just outlined, others might lean towards the one that Dave and others have outlined.
That's the problem with tax...it doesn't have to be complicated....but it is!
Ian