Income Tax (Trading and Other Income) Act 2005 section 768

Commercial occupation of woodlands

Section 768 exempts income arising from the commercial occupation of woodlands in the United Kingdom from any charge to income tax as miscellaneous income.

• Income from commercially occupied woodlands in the UK is exempt from income tax under the miscellaneous income rules
• The exemption applies specifically to income that would otherwise fall within the charge on income not otherwise charged (Chapter 8 of Part 5)
• To qualify, the woodlands must be managed on a commercial basis and with a view to realising profits
• Both conditions — commercial management and a profit motive — must be met for the exemption to apply