How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask wingrovebuyer Your Own Question
wingrovebuyer, Senior Solicitor
Category: Property Law
Satisfied Customers: 737
Experience:  Bachelor of Laws (Honours); PG Diploma in Law; Member of ALA; 9 years' experience
Type Your Property Law Question Here...
wingrovebuyer is online now

The following land is listed on RightMove:

This answer was rated:

The following land is listed on RightMove:
What tax benefits are they with owning wood land ??
wingrovebuyer : Hello. First off, income from timber sales is tax free. Also, if you manage the woodland commercially (ie grow and sell timber or derive some income from it) it will be free of inheritance tax once you have owned it for more than two years. Woodland can be used for rolling over capital gains from business sales, so if you have sold a business and made a capital gain and you use the money to buy a woodland, you defer (indefinitely) the Capital Gains Tax you would have paid on the sale of the business (or business asset). When you sell the woodland you only pay tax on the gain in the value of the land and not on the increase in value of the timber. Hope this helps! WB
wingrovebuyer and other Property Law Specialists are ready to help you