Crane Oversailing License Taxable?

Krunaldesai

We have a large care home being built next door and we potentially have agreed a 5 figure crane oversail license for 12 months.

Would this be classified as taxable income?
If so, as the property is in both me and wife's name, would we split the fee 50/50 for our tax calculations?

[Deleted User]

Krunaldesai said:

We have a large care home being built next door and we potentially have agreed a 5 figure crane oversail license for 12 months.

Would this be classified as taxable income?
If so, as the property is in both me and wife's name, would we split the fee 50/50 for our tax calculations?

I believe that it would be taxable as property income, jointly in your case.