SolvedETASSUM52220 | Enterprise Management Incentives (EMI): Excluded activities: holding, managing or occupying woodlands, any other forestry activities or timber production
From HM Revenue & Customs · Employee Tax Advantaged Share Scheme User Manual
Paragraph 16, Schedule 5 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA)
Holding, managing or occupying woodlands, any other forestry activities or timber production are excluded activities for EMI purposes.
This covers everything from the planting of trees to the harvesting of timber, to the extent that they constitute or are part of a trade.
They apply whether or not the company owns the woodland.
The processing of raw timber is not covered.