DO YOU PAY TAX ON AIR BNB? EXPLAINED

[@c3cio]

how do you calculate the expenses? Let's say your monthly bills are £200 and you rent the room for 10 days in a month, you can consider 200/10= £20 as expense? Does council tax and service charge are considered expenses?

[@Ur-friend-no-filters-UK]

Hi . Thanks for the info. When is Airbnb of whole property considered as non business? 140 days and certain income? I am unable to understand that clause. Please explain

[@HeelanAssociates]

I’m unsure as to where the 140 figure you refer to is coming from?

[@icesick96]

Hi, many thanks for the informative video, I've just got one question. If my main residence is the property I'm renting out on Airbnb, would I qualify for the Rent-a-Room relief if, during the days the property's rented out, I stay with my partner in their property?

[@HeelanAssociates]

If you are effectively 'sharing the front door' with the renters, it's likely you would qualify.

[@thecmack]

Thanks Dan! Do I need to set myself up as a Sole Trader or Ltd Company to rent a room in my owned property via Air BnB?

[@HeelanAssociates]

It’s likely sole trade would be the natural option but sadly can’t provide direct 1-2-1 advice here.

[@lefinlan]

This invaluable info. May I ask, is council tax deductible off the HMRC tax bill off your gross turnover?

[@HeelanAssociates]

Off your gross? No, but it *could* be a tax deductible expense, depending on your circumstances. Sadly we can't advise 1-2-1 here (due to professional regulations and the need to ask a load more questions!)

[@mariammanzoor5637]

I'm running the Airbnb on behalf on my mother (the homeowner) and I send all the profits to her account, who is required to submit these earnings as part of the tax return? Would it be me or my mum? Many thanks

[@HeelanAssociates]

Who owns the property?

[@mariammanzoor5637]

@@HeelanAssociates my mum not me

[@jackdanny4498]

Hi great video thanks Please can you confirm if a property qualifies as a Full Holiday Let, does council tax need to be paid ? I have read on some threads they don't assuming the income generated is bellow 15K per annum? Regards Chris

[@HeelanAssociates]

Hi Chris, Sorry we don't advise on Council Tax, this ones probably for your local authority! Sorry we can be more help.

[@ivantejeda]

Hey Jack👋 I have some videos that might help you get going on your Airbnb business journey. If you ever have any questions just lmk.

[@margaretreece3803]

Hi, saw your video but it's 2 years old. Is the £7500 rent relief still applicable for Airbnb lets from your home? Thanks.

[@HeelanAssociates]

Yes thats how much has changed in 2 years.... still relevant!

[@tuumaylilay3260]

Thanks for sharing this insightful video. One question, if I have a regular job were the UK personal allowance of £12,500 is applied on, do I still get the £7,500 relief on the Airbnb income? Thanks

[@HeelanAssociates]

If you qualify for rent a room relief (£7,500) then yes, it's additional.