Is a wayleave payment tax-free under Property Income Allowance ?

I received a lump sum payment of £1000 in the tax year 2023/4 from the National Grid as part of a Wayleave Consent made on our property. Am I correct in thinking that it comes under the Property Allowance, and does therefore not need to be included in my Self Assessment (I am self-employed)? I am referring to this page - https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income#property Many thanks, Pete

Hi,
As wayleave payments are usually taxed as property income, in such cases, if expenses do not exceed £1,000, you may choose to offset the property income allowance against such lump sum payment as well as rental income. You can see guidance here:
PIM1114 - Income excluded from UK property business: wayleaves & easements: IT
Thank you.