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Got an AirBnB property?

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    Got an AirBnB property?

    Better make sure you declare it.

    HMRC receives Airbnb letting data | AccountingWEB
    "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

    #2
    Originally posted by DaveB View Post
    Better make sure you declare it.

    HMRC receives Airbnb letting data | AccountingWEB
    It's a bit late if you started letting it in 2018/19 and didn't declare it then... Should just about be able to get away with it if you started letting it since April 2019.
    merely at clientco for the entertainment

    Comment


      #3
      Surely nobody is stupid enough to have undeclared income from AirBnB. Aren't they? Perhaps not?
      Public Service Posting by the BBC - Bloggs Bulls**t Corp.
      Officially CUK certified - Thick as f**k.

      Comment


        #4
        Originally posted by Fred Bloggs View Post
        Surely nobody is stupid enough to have undeclared income from AirBnB. Aren't they? Perhaps not?
        I suspect we won't be surprised....
        merely at clientco for the entertainment

        Comment


          #5
          Originally posted by Fred Bloggs View Post
          Surely nobody is stupid enough to have undeclared income from AirBnB. Aren't they? Perhaps not?
          I would not be surprised if less than half of AirBNB owners have declared that income.

          Comment


            #6
            Not read the article yet, so...

            Can AirBnB rental be covered by the rent a room relief, or whatever it is?

            Still needs to be declared, of course, which I suspect many people haven't even remotely considered. Especially those who may rent out on an ad hoc basis.

            Comment


              #7
              Originally posted by ladymuck View Post
              Not read the article yet, so...

              Can AirBnB rental be covered by the rent a room relief, or whatever it is?

              Still needs to be declared, of course, which I suspect many people haven't even remotely considered. Especially those who may rent out on an ad hoc basis.
              From the article

              What to declare

              The Airbnb insight report for 2017/18 says the annual earnings from Airbnb by a typical UK host is £3,100, (£3,800 in Scotland). This lies within the room-a-room relief allowance of £7,500, so would not generate a tax reporting obligation for a host who only lets out part of their main home.

              However, letting a second or third home that generates income in excess of £1,000 in a tax year will create a tax reporting obligation. The £1,000 limit is the trading and miscellaneous income annual allowance that can apply to letting income that doesn’t fall within rent-a-room relief.

              Comment


                #8
                What sort of ID do you need to provide to rent via Airbnb ? National Insurance No. ? It might not be that easy for HMRC to pin it down on a simple search.

                Comment


                  #9
                  Originally posted by rootsnall View Post
                  What sort of ID do you need to provide to rent via Airbnb ? National Insurance No. ? It might not be that easy for HMRC to pin it down on a simple search.
                  HMRC will have the appropriate bank account details amongst the datasets they have access to...
                  merely at clientco for the entertainment

                  Comment


                    #10
                    Originally posted by eek View Post
                    HMRC will have the appropriate bank account details amongst the datasets they have access to...
                    Yes should be easy enough I guess. Years ago in Oz they brought in a Tax File No system and you can't sneeze without providing one. Works wonders for tax collection I think.

                    Comment

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