Got an AirBnB property?

[DaveB]

Better make sure you declare it.

HMRC receives Airbnb letting data | AccountingWEB

[eek]

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.

[Fred Bloggs]

Surely nobody is stupid enough to have undeclared income from AirBnB. Aren't they? Perhaps not?

[eek]

Surely nobody is stupid enough to have undeclared income from AirBnB. Aren't they? Perhaps not?

I suspect we won't be surprised....

[Paralytic]

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.

[ladymuck]

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.

[Paralytic]

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.

[rootsnall]

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.

[eek]

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...

[rootsnall]

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.