162 ENGLISH WOODLANDS 



Two recent statutes give an occupier of wood- 

 lands an option to be charged to Income Tax 

 under Schedule D (which deals with the profits 

 arising from trades and professions) instead 

 of under Schedule B. The assessment under 

 Schedule D is the average profit of the three 

 years preceding the year of assessment. 



The Finance (No. 2) Act, 1915, 22, sub-sec. 

 4, provides as follows : 



(4) Any person occupying woodlands, who 

 proves to the satisfaction of the General Com- 

 missioners that those woodlands are managed 

 by him on a commercial basis and with a view 

 to the realisation of profits, may elect to be 

 charged to Income Tax in respect of those 

 woodlands under Schedule D instead of under 

 Schedule B, in the same manner as a person 

 occupying lands for the purpose of husbandry 

 only, and 18 of the Customs and Inland 

 Revenue Act, 1887, shall apply accordingly, 

 subject as follows : 



(a) Any such election shall extend to all 



woodlands so managed on the same 

 estate ; and 



(b) The election shall have effect, not only as 



respects the year of assessment men- 



