Taxation on compensation & Payment in kind related to a covenant restriction

[getme]

I'm negotiating with a neighbour who wishes for me to release a restricted covenant on her land.

In exchange for a full release, as she is a Painter Decorator by trade, she is willing to paint my house outside and in, plus give me £5000 cash and pay the costs.

Are there any tax implications on activities like these? Bearing in mind the Covenant Beneficiary is the Title of my Principle Private Residence, the compensation makes up for a loss in value to said residence, so it [hopefully] carries that Tax Relief will carry. I'm just being paid now rather than later for a part of the Residence.....