Police are investigating a serious assault at a Middleton residence last night where a man was injured by a chainsaw.

Around 10.20pm police were called to a dispute between neighbours on Wards Court.

A woman and man had attended a neighbouring property, the woman allegedly crashed a vehicle into the neighbours shed, and the man allegedly injured the neighbour with a chainsaw.

The 59-year-old male neighbour received significant wounds to his arms and was transported to the Royal Hobart Hospital in a serious condition.

A 52-year-old woman and 60-year-old man are in police custody assisting with enquiries. It is anticipated charges will be laid later today.

Police remain at the scene in Wards Court where further physical examinations will be undertaken.

Police would like to reassure the community this was an isolated incident linked to an ongoing dispute between people known to each other.