Tax advice on making more of woodland on your farm

摘要

We have about 35 acres of woodland on our mixed farm and have not managed it much, other than to clear fallen trees for our own firewood. Now, we would like to make more of it. Selling timber is an obvious option, and I've heard that woodland has favourable tax treatment but don't know the detail - can you advise how we should go about this, what the tax considerations are and any pitfalls?