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As a general rule, you will need to pay Income Tax at the usual rate on money earned from hosting on Airbnb.
Your actual tax bill will depend on a few things:
In this case it’s pretty simple.
As long as you also live on the property, if you earn under £7,500 from Airbnb, you don’t need to do anything. This is called “the Rent a Room scheme“.
If the property is owned jointly, the Rent a Room allowance is split between you two – but so is the Airbnb income, so the total tax is actually the same.
If you are listing a property that’s not your home, then you will be taxed just like regular business owners:
A special rule: if your property qualifies as a furnished holiday letting (this is what it means), you get a few tax advantages:
In your Airbnb account.
Simply visit your Transaction History page.
We recommend you contact your local City Council before you host on Airbnb, just to be sure.
Otherwise, if you need help paying your Airbnb tax, just sign up to TaxScouts and we’ll do it for you for a flat £119.