As a co-host what kind of taxes will the co-host be responsible for at tax season
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16-03-2023
04:53 PM
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16-03-2023
04:53 PM
As a co-host what kind of taxes will the co-host be responsible for at tax season
Co-hosting and taxes
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16-03-2023
04:53 PM
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16-03-2023
08:31 PM
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16-03-2023
08:31 PM
Hi @Linda3895 and welcome!
As far as I'm aware, you should only be liable for paying Income Tax (if you're in the UK).
Having said that, there will be some items you will be able to claim for when completing your tax form, so it's just as well to know in advance, as one cannot claim in retrospect, nor carry forward to the next year.
Do you have to travel to the property by car (your own)? If yes, then you'll be able to claim for mileage at the rate of £0.45p per mile (and don't forget, any journey includes the going to, and the return from!)
HMRC will be able to let you know for what you will be able to claim on your Tax Return (probably will have downloadable Help details online).
You might also want to look at a Company called TaxScouts, as not only might their rates and services help you, but they also "do" TaxReturns for those with Airbnb properties, providing a 10% discount on the first return you file.
Just be aware that if you do use them, they have 3 price bands, and that if you need advice, it would be best to go with their £229 package as it includes both advice and their completing the TaxReturn.
By the way, I'm not associated with TaxScouts not do I have any interest in them, as I use an Independent Accountant who works out everything for me, and files the returns, but then their prices are more than TS, but are only a couple of miles away from me (their fees also are Tax deductable, but that would have to be claimed in the 2023-2024 Tax Return!)
Hope some of the above might be of some help, but to find out exactly what can be claimed for on your return, HMRC (and/or your Accountant) are the best to ask/check with!
16-03-2023
08:31 PM
5 Replies 5
16-03-2023
05:01 PM
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16-03-2023
05:01 PM
Hey @Linda3895 ,
Welcome to the Airbnb Community Center!
I just wanted to drop a note that I have moved your post to a wider board for our members to notice.
Can’t find what you’re searching for? start a conversation
16-03-2023
05:01 PM
18-03-2023
01:59 PM
![Linda3895 Linda3895](https://a0.muscache.com/im/pictures/user/a7d8a009-505e-4484-a48b-bcb812b59b34.jpg?aki_policy=profile_x_medium)
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18-03-2023
01:59 PM
Thank you so much for the informative information. Much appreciated and very helpful..
18-03-2023
01:59 PM
16-03-2023
05:05 PM
![Mike-And-Jane0 Mike-And-Jane0](https://a0.muscache.com/im/pictures/user/17c34e01-9680-4117-b871-bb975bb573fb.jpg?aki_policy=profile_x_medium)
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16-03-2023
05:05 PM
@Linda3895 Income tax for sure. I would think the host is responsible for all other taxes
16-03-2023
05:05 PM
16-03-2023
08:31 PM
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16-03-2023
08:31 PM
Hi @Linda3895 and welcome!
As far as I'm aware, you should only be liable for paying Income Tax (if you're in the UK).
Having said that, there will be some items you will be able to claim for when completing your tax form, so it's just as well to know in advance, as one cannot claim in retrospect, nor carry forward to the next year.
Do you have to travel to the property by car (your own)? If yes, then you'll be able to claim for mileage at the rate of £0.45p per mile (and don't forget, any journey includes the going to, and the return from!)
HMRC will be able to let you know for what you will be able to claim on your Tax Return (probably will have downloadable Help details online).
You might also want to look at a Company called TaxScouts, as not only might their rates and services help you, but they also "do" TaxReturns for those with Airbnb properties, providing a 10% discount on the first return you file.
Just be aware that if you do use them, they have 3 price bands, and that if you need advice, it would be best to go with their £229 package as it includes both advice and their completing the TaxReturn.
By the way, I'm not associated with TaxScouts not do I have any interest in them, as I use an Independent Accountant who works out everything for me, and files the returns, but then their prices are more than TS, but are only a couple of miles away from me (their fees also are Tax deductable, but that would have to be claimed in the 2023-2024 Tax Return!)
Hope some of the above might be of some help, but to find out exactly what can be claimed for on your return, HMRC (and/or your Accountant) are the best to ask/check with!
16-03-2023
08:31 PM
18-03-2023
04:52 PM
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18-03-2023
04:52 PM
@Linda3895 The owner should provide you with a 1099 and this is reported as "other income" on your tax return.
Speak to an accountant, please.
18-03-2023
04:52 PM
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