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Lump sum payment
Newmead
Posts: 7 Forumite
in Cutting tax
Would a one off lump sum payment from a landlord be liable for tax for moving out of protected tenancy?
0
Comments
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It is not a straightforward question. It will depend on the precise circumstances, including the terms of the tenancy and whether any business is involved. As a rough guide, a statutory payment is normally exempt, but a payment for the surrender of a tenancy may be taxable.0
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There is no terms as such as it is a protected tenancy, we have lived her for 36 years, originally a tied cottage for 32 years with employment. New landlord when farm sold.0
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How much is involved, and are both of you receiving a share?0
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