Section 980 Exemption for commercial occupation of woodlands in UK
No liability to corporation tax arises under this Chapter in respect of income arising from the commercial occupation of woodlands in the United Kingdom.
For this purpose the occupation of woodlands is commercial if the woodlands are managed—
on a commercial basis, and
with a view to the realisation of profits.
Notes on Chapter 8
Modifications
- C1
Pt. 10 Ch. 8 modified by 2010 c. 8, s. 259CE(7) (as inserted (with effect in accordance with Sch. 10 paras. 18-21 of the amending Act) by Finance Act 2016 (c. 24), Sch. 10 para. 1)
- C2
Pt. 10 Ch. 8 modified by 2010 c. 8, s. 259DG(7) (as inserted (with effect in accordance with Sch. 10 paras. 18-21 of the amending Act) by Finance Act 2016 (c. 24), Sch. 10 para. 1)
- C3
Pt. 10 Ch. 8 modified by 2010 c. 8, s. 259ED(8) (as inserted (with effect in accordance with Sch. 10 paras. 18-21 of the amending Act) by Finance Act 2016 (c. 24), Sch. 10 para. 1)
- C4
Pt. 10 Ch. 8 modified by 2010 c. 8, s. 259GD(8) (as inserted (with effect in accordance with Sch. 10 paras. 18-21 of the amending Act) by Finance Act 2016 (c. 24), Sch. 10 para. 1)
- C5
Pt. 10 Ch. 8 modified by 2010 c. 8, s. 259GE(7) (as inserted (with effect in accordance with Sch. 10 paras. 18-21 of the amending Act) by Finance Act 2016 (c. 24), Sch. 10 para. 1)