Paying UK Income Tax - different listings

[Dora31]

hi all

I am seeking some advice from you. I have a 2 bedroom apartment where I advertise one of the rooms, and time to time the property when I go away. my gross income was over 8000 pounds in 2017. 

the income from renting the room was less than 7500 GBP, and the income from renting the property was less than 2500 GBP. Do I need to pay tax?

Currently anyone letting a room in their home on a short-term basis using sharing websites, such as Airbnb, can receive up to £7,500 per year in rents without paying income tax.

I believe that for property this is £2,500 per year

what do you think?

[Alice-and-Jeff0]

@Dora31 - yes, you need to pay taxes.  The tax is based on the entire business of renting your flat regardless of how that money was made (through individual rooms or entire flat).  This would be the same if you did business through Airbnb and/or any other booking site to achieve a gross of flat-rental income of over 7500.  

[Dora31]

imteresting, I got a different view from an accountant now

[Alice-and-Jeff0]

@Dora31 - always consult with a tax professional. UK taxes are different than those in the US, so you may have an additional loophole that will provide you with relief from paying taxes on income like this.  The way I see it, your listings are not 2 businesses, but one business that has more than one product, but that may not be the way it is seen elsewhere.  

[Julia66]

@Dora31 The gov.uk website will give you details of the Rent-a-Room Scheme:

https://www.gov.uk/government/publications/rent-a-room-for-traders-hs223-self-assessment-helpsheet/h...

Under this scheme, it does make a difference whether you are letting a room or a whole property

Apart from the Rent-a-Room Scheme, the normal tax-free personal allowance is £11,500.  So if your total income is less than this, you don't need to pay tax. 

The income figure used for the Rent-a-Room Scheme is your gross income from the room.  If you don't use the Scheme, you can offset your expenses against your taxable income and declare your net profits for income tax purposes.  If your income goes over £11,500, you have to do the sums and see if you want to use the Rent-a-Room scheme or not.  

[Nancy385]

I ha