SolvedVCM3100 | Excluded activities: holding, managing or occupying woodlands, any other forestry activities or timber production
From HM Revenue & Customs · Venture Capital Schemes Manual
These sections exclude holding, managing or occupying woodlands, any other forestry activities or timber production. 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.