Revenue amended their Capital Acquisitions Tax (CAT) Manual to clarify that forestry/woodland businesses are not regarded as the making or holding of investments for the purposes of eligibility for CAT business relief.

The manual in Part 12 tells us that while the carrying on of a forestry/woodland business may appear to be in the nature of making or holding investments in view of the long-term nature of the realisation of profits or gains; taking all aspects of a such a business into account, the business should not be regarded as the making or holding of investments.