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Woodlands

Woodlands

Woodlands – Tax free income

You do not have to pay Income Tax (IT) or Corporation Tax (CT) on any profits or gains from the commercial use of woodlands in Ireland.

You will still have to pay Pay Related Social Insurance (PRSI) and Universal Social Charge (USC) on your income if you are an individual.

You must include any profits, gains or losses that you have made from the use of woodlands on your annual tax return. You can declare this amount under the Exempt income section on your tax return.

On the Revenue Online Service (ROS), you can complete a Form 11 if you are self-employed. If you are registered for CT you can complete a Form CT1 on ROS.

Subject to qualifying conditions

Any queries give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie

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