A lot of people are using Airbnb for their travel needs and others are using to generate additional income. There is a tax relief system for those that are renting out whole properties, and depending on how big the property is, how long people stay, and where it is located, could all affect how much of a tax relief they are getting. The people who are renting out rooms in the spaces that they are occupying probably won’t qualify for the tax break.
Key Takeaways:
- The U.K. government is considering charging increased taxes on individuals who rent rooms with a program such as Airbnb.
- The tax structure in place has been the same guideline since the early ’90’s.
- Currently, amounts under £7,500 earned from leasing a room are not taxed by the government.
“Airbnb has long made it clear that its guidance to its hosts has been to claim the relief only on the letting of rooms, not entire properties.”
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