Business Relief

Owning woodland as a tax incentive

If you own woodland as part of the portfolio of your estate, it can help to reduce your final Inheritance Tax bill.
 
Woodland relief means that the value of the timber on that plot of land can be excluded from the overall value of your estate. Bear in mind however, that this only applies to the timber itself, and not to the land on which it is planted.
 
Under the rules of Woodland relief, should your beneficiaries then sell the timber after your death, they may find that IHT then falls due on the monies raised from the sale.
 
If the woodland does not quality for Woodland relief, it may then qualify for Agricultural Relief, or Business Relief, if it can be classed as a business investment.

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