Hi, I have a problem with payment on hold. I have been waiti...
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Hi, I have a problem with payment on hold. I have been waiting for a month. Can you help me?
Latest reply
Need some sound advice on Whether if I need to pay for Tax separately or does Airbnb Automatically add it Cheers
@Jo620 which tax are you talking about?
If you are registered for VAT then you need to say so in your listing/account and then Airbnb will charge VAT on the whole listing charge (not just their fees)
If you are talking about income tax then no Airbnb don't collect it as they would have no idea how much to collect. They do report earnings to HMRC though.
If you are not registered for VAT then Airbnb charge it on their service fees (host and guest) and it is their responsibility to remit it to HMRC.
I am talking about income tax.
I am currently writing all earnings on paper,but think I should be doing more??
Thankyou this is peace of mind
@Jo620 go to gov.uk and search for rent a room and it tells you all you need to know
@Jo620 you should research the governments 'rent a room' scheme on gov.uk
In simple terms you can earn 6 or 7 and a half thousand and pay no tax. Anything above this figure you'll get taxed on. You should keep a record of how much you have earned and the scheme may allow you to allocate expenses (I can't remember). You need to record income in a tax year ie Apr6th to Apr 5th
Thanks so much. I'll look into it
@Mike-And-Jane0 I have looked and it says if earn less than 7,500, I won't need to do anything,this has been piece of mind thanks