More and more of us are topping up our income by offering a spare room or a temporarily vacant home to holidaymakers or business travellers through Airbnb. In just twelve short years, Airbnb has grown to become a ubiquitous part of 21st century travel and now around 8.4 million travellers a year to the UK book through Airbnb.
A nice little earner if you’re lucky enough to have a spare room in the right location – and that’s not just in major cities and popular holiday spots. But (and there’s usually a but) there are tax rules you do need to be aware of.
If you are a host on Airbnb, you may have to declare your income. With the 31st January self-assessment deadline fast approaching, many Airbnb’ers may be scrambling to complete their tax returns (If you aren’t sure about taxes and Airbnb, check out Airbnb’s own tax guide).
Thankfully, there’s also a new app that can help take the confusion away.
Untie your tax return
The ‘United’ personal tax app makes it easy to stay on top of your Airbnb income and expenses, prompting you to pay exactly what you owe and claim any tax relief you might be entitled to. It’s quick to use, automating repetitive tasks, freeing up time that frankly no one should want to spend on their taxes. You can save even more time by using the app to submit your end of year self-assessment to HMRC directly from your mobile phone.
You can download the Untied app on the Apple or Google app store.