(1)The commercial occupation of woodlands in the United Kingdom is not a trade or part of a trade for any income tax purpose.
(2)For this purpose the occupation of woodlands is commercial if the woodlands are managed—
(a)on a commercial basis, and
(b)with a view to the realisation of profits.
(3)See also sections 267 and 768 (which, when read with this section, secure that profits or losses from the commercial occupation of woodlands in the United Kingdom are ignored for income tax purposes).