We live in a house on an assured tenancy, and have done for about 20 years.
The landlords have decided that they would like to redevelop the site, and obviously our position is something of a complication. They have offered us an ex gratia payment to vacate the property which is quite generous, but it obviously replies on the tax position to some degree.
Is a payment of this sort liable for income tax, or is it viewed in a different way?
Many thanks for any help you can offer.
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