Reply to: Got an AirBnB property?

[GigiBronz]

Exactly. And don't get me going about health care. So called 3rd world countries often have better health services. In the UK it's still like Florence Nightingale still worked there. Three weeks for result of an Xray? FFS, why? Everywhere else in the world now, it's instantaneous on the screen round the corner. Enough of a rant.

because the leading class are criminals and want to create the need in the population for private health care. so that they can share more money between friends and family and get population more productive. what else can you do then? just not work and die from a appendicitis that you cannot afford £10k for ?

returning to the subject, I guess historically landlords have been able to pass the additional costs of taxation or others to tenants / guests.
the real pests of the sector, I would pressure they are incorporated as ltds and managing their tax liability more carefully. Presumably plenty of them have received even gov support during this period...

[Fred Bloggs]

Because we use the phrase World Beating - without checking whether we are good (or even vaguely competent) at what we do.

Exactly. And don't get me going about health care. So called 3rd world countries often have better health services. In the UK it's still like Florence Nightingale still worked there. Three weeks for result of an Xray? FFS, why? Everywhere else in the world now, it's instantaneous on the screen round the corner. Enough of a rant.

[ladymuck]

Because we use the phrase World Beating - without checking whether we are good (or even vaguely competent) at what we do.

This is where you're going wrong.

You're assuming World Beating = better than everywhere else.

Been waiting ages for a reason to share a clip from one of my favourite naff films

[eek]

Yes, everything is linked back to ATO. When you start your tax return after June 30th everything regarding salary is prepopulated in the electronic return. To the extent that annual salary statements are no longer issued by employers, typically. When you file the tax return it's either closed out or a tax demand lands within days. A tax refund lands in a couple of days paid direct to your bank. I am left wondering why, if government departments in Australia are so efficient, why is the UK so bad?

Because we use the phrase World Beating - without checking whether we are good (or even vaguely competent) at what we do.

[Fred Bloggs]

When the TFN first came in I forgot about a few dollars of interest, had an email within days

Yes, everything is linked back to ATO. When you start your tax return after June 30th everything regarding salary is prepopulated in the electronic return. To the extent that annual salary statements are no longer issued by employers, typically. When you file the tax return it's either closed out or a tax demand lands within days. A tax refund lands in a couple of days paid direct to your bank. I am left wondering why, if government departments in Australia are so efficient, why is the UK so bad?

[rootsnall]

You are right. And it does. Oz is one of the few places that has an even more complex taxation system than ours. But it is administered very well indeed and everything happens really quickly. Everyone files a tax return unlike the UK.

When the TFN first came in I forgot about a few dollars of interest, had an email within days

[Fred Bloggs]

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.

You are right. And it does. Oz is one of the few places that has an even more complex taxation system than ours. But it is administered very well indeed and everything happens really quickly. Everyone files a tax return unlike the UK.

[Fred Bloggs]

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.

Yes, one room in your main residence.

[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.

[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]

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.

[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.

[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]

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.

[eek]

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

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