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Air bnb tax

6 replies

namechangerooey · 18/03/2019 18:02

Hi, me and DH have just started doing air bnb and are trying to get our heads around the tax side of things!!
He set up the account but then we tried to make me the primary host and I set up the money to go into my account, as I earn less so we wanted it to go on my tax bill. However this hasn't worked out as we thought as everything is still registered to him and his account. Air bnb say the only way around this is to redo our listing under my name, which we're loathe to do as we have lots of good reviews we will lose!!
If we manage to change the settings so that the money goes into my account, but the actual air bnb listing is still in my husband's name, will that mean that we have to declare the earnings on his tax return, or can we still do it on mine as the money is going into my sole account??

OP posts:
GatherlyGal · 18/03/2019 18:11

My understanding is if you own the property jointly you have to share the tax income. We are joint tenants on our house so have to split it 50:50. The account holder doesn't make a difference and if the money is paid to one of you and you are joint owners the other is entitled to half the income.

namechangerooey · 18/03/2019 19:12

Ah ha, okay! We did wonder if this might be the case too. Thanks!

OP posts:
Cismyfatarse1 · 18/03/2019 19:21

We have one and our accountant deals with it. We also both work, plus DH has a part time SE job so it gets sorted that way.

Whose account makes little difference although running a separate business account makes it much easier to manage the paperwork around tax as some things are allowed against tax e.g. bills / mortgage interest (not capital repayments).

Winebottle · 18/03/2019 20:38

For married couples, it is split 50/50. It doesn't matter who makes the listing or who's account the money goes to.

TalkinPaece · 18/03/2019 21:08

For married couples, it is split 50/50. It doesn't matter who makes the listing or who's account the money goes to.
Not necessarily
Get an accountant

tumtitum · 18/03/2019 22:01

I don't think we're going to make enough to justify the expense of an accountant! Just the odd weekend when we are away ourselves anyway.
DH used to be self employed so we are good with keeping records etc so should be okay! Tbh although it's more tax for us this way it means we don't have to bother faffing around relishing our property. We will probably only get another year out of air bnb anyway as our DC get older and their belongings multiply!!

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