Peter Axford
-
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