Info for woodland owners
Why produce wood fuel?
Owners and managers of woodland in Wales are in an enviable position. Demand for wood fuel is increasing, with rising fossil fuel prices pushing householders to turn to wood to heat their homes. Businesses and institutions are also taking advantage of the UK government’s Renewable Heat Incentive (RHI) scheme to install wood burning technology to heat their businesses.
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15% of Wales is woodland, of which 60,000 hectares of broadleaved woodland is believed to be unmanaged thereby offering the potential of a substantial timber resource suitable for the wood fuel market. We are urging woodland owners to act now and reap the benefits.
Owning a woodland can now be a profitable economic venture, because of:
• Price rises and unpredictable supply of gas and oil.
• Improvement in the efficiency of wood burning stoves.
• Consumers demanding environmentally sustainable fuel supplies.
• Government policies aimed at protecting the environment and encouraging the use of biomass to generate heat becoming more important.
• Unlike fossil fuels, wood fuel is renewable, provided woods are managed sustainably.
Current retail prices for wood fuel makes modern management of woodlands a viable prospect.
Did you know that as long as timber is simply snedded (branches removed) and cut to length or sold standing, any income or profit generated from sales is exempt from income tax? Adding further value to the timber by processing into firewood etc. makes it a taxable income. For more details and other woodland tax benefits contact HMRC.
Case study - Starchfield Covert