Commentary

B5.130 Exemption for woodlands

Business tax
Business tax | Commentary

B5.130 Exemption for woodlands

Business tax | Commentary

Woodlands

B5.130 Exemption for woodlands

Income derived from the occupation of commercially-managed woodlands in the UK is outside the scope of income tax and corporation tax1. It follows from this that the proceeds of the product (eg felling and selling the timber) from such woodlands are free of income or corporation tax and the value of the growing timber is not subject to income tax, corporation tax or capital gains tax2. The commercial occupation of land that comprises woodlands or is being prepared for use for forestry purposes is statutorily excluded from the charge on trading profits3. Provisions also

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial