AIRBNB TAX GUIDE

Are you an Airbnb provider?

WIT Accounting is an accountancy company that provides fully managed, business and financial services for Airbnb providers in need of TAX Support. 

Airbnb Tax Accountants

Are you a Holiday Home host?

WIT Accounting can help you with tax returns, financial services and support.

Many people are using platforms such as Airbnb, Booking.com and Vrbo to rent out rooms, houses, flats, lodges and some very inventive holiday homes out there!

It’s a great source of income and can be an enriching experience, hosting people from all over the world.

When you register with platforms to advertise your property, the fine print on these sites usually tells you that the tax responsibility lies with the host, and the onus for checking out what you need to declare lies with you. If unsure, you can check if you need to tell HMRC about your additional income, you can click here to find out more.

We appreciate that dealing with figures isn’t everyone’s forte, and you may not have the time. At WIT accounting we can help take the weight off and deal with your self-assessment for you. All you would need to do is complete our simple questionnaire and if you have details of any expenses incurred for your property, we can work through those. We may also discuss with you whether your property qualifies as Furnished Holiday Letting (FHL), allowing you to claim Capital Gains tax relief for traders etc.

As we approach the deadline for self-assessments, it’s a good idea to gather a summary of your income from hosting. Airbnb provides a comprehensive summary that you can cross-check with your bank account and a tax guide explaining about self-assessment filing. In your Vrbo account, you will also have a list of reservations and income received. Others use multi-platform software such as HelloGuest which should detail all of your rental income from various sites along with an invoice for their fee. Examples of legitimate expenses incurred directly for the provision of the holiday let are: Service fees (eg Airbnb/Vrbo), insurance, repairs/redecoration, replacement of items and any professional fees.

We’d love to chat and see how we can help you.

Our Airbnb tax accounting support

We take away the boring side of things to give you time to do what you do best. Whether you need to file a Self-Assessment tax return or want positive, smart business and financial advice, we’re here to help because you are WORTH IT.

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