In 2023-24, Peter is granted a 12-year lease on a property, paying a premium of 40,000 to

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In 2023-24, Peter is granted a 12-year lease on a property, paying a premium of £40,000 to his landlord. He immediately grants a 4-year sub-lease to Paula, receiving a premium from her of £14,000. Calculate the income tax assessment on this premium.

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