Capital gains tax | Commentary

C2.1112 Woodlands

Capital gains tax | Commentary

C2.1112 Woodlands

Any consideration for the sale of trees or saleable underwood1 is excluded in computing the gain2 arising on the disposal by the occupier of woodlands managed by the occupier on a commercial basis and with a view to the realisation of profits3. This exemption corresponds to the exemption for income arising from the occupation of such woodlands (see B5.130).

The term 'woodlands' has been held4, in the context of income tax, to be given its ordinary meaning, connoting a wood, a sizeable area of land to a significant extent covered by growing trees of some maturity, height and size.

The

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