This Bulletin explains the taxation of woodlands for the benefit of woodland occupiers (and their advisers). Part 1 deals with income tax and corporation tax following the major changes to the taxation of commercial woodlands made by the Finance Act 1988. Part 2 deals with the application of capital gains tax to disposals of woodlands. Part 3 deals with liability to inheritance tax (and capital transfer tax which it replaced) for lifetime gifts made after 26 March 1974 and for deaths after 12 March 1975. Part 4 deals with liability to estate duty for deaths before 13 March 1975. Any enquiry about income tax, corporation tax and capital gains tax should be addressed to the Inspector of Taxes to whom the woodland occupier normally makes his tax returns. Any enquiry about inheritance tax, capital transfer tax, or estate duty should be sent to the appropriate Capital Taxes Office.
190 x 250mm | 24 pages | black and white