Hi @Priya126
Please check the footer of Airbnb - there is a lot of information about hosting, how airbnb collect money, and how you are paid.
https://www.airbnb.co.uk/host/homes?from_footer=1
Regarding taxes, you should contact a local accountant, someone that understands about short term lettings.
Make sure that you contact another host for a referral link before you start hosting - you both get a bonus.
Good luck!