AirBnB Hosts

Hosting through AirBnB is a great opportunity to earn some extra money which naturally creates additional tax implications for you. If you are in receipt of AirBnB income, you are legally obliged to file an annual tax return to Irish Revenue to report the income you earned and expenses incurred throughout the tax year.

Your annual tax return needs to include all sources of income you had during the tax year (such as PAYE income, dividends, deposit interests, etc.), even if you have already paid tax on that income. You have to submit the tax return to Irish Revenue by the 31st October following the end of the tax year.

Unfortunately, AirBnB income no longer qualifies for the Rent–a-room relief as lodging is provided to occasional visitors for short periods rather than for residential purposes.

The good news? There is still a myriad of things you can claim as expenses.

Our experienced tax specialists developed a friendly tax questioning pack ensuring you will not miss any expenses and tax deductions you may be entitled to in order to minimize your tax liability.

Tips and tricks

You can claim a number of expenses to reduce your tax bill as long as they are directly related to the provision of the accommodation. This could include: Meals, Cleaning, Commission to AirBnB, Electricity, Heating, Laundry, Insurance costs, Management fees etc. One thing to note is that you can claim the proportion of the utility bills that are incurred for the rented accommodation only. Our tax experts advise to keep documentary evidence of all expenses throughout the year to be able to use them to reduce your tax liability.

Preparing your tax return can be daunting with all the complications a €20-a-Night Sofa might bring about. You are bound to have many questions and Irish Taxes are here to take the stress out of the filing process and guarantee you are fully compliant with the Revenue regulations.

Register now to start your AirBnB tax return today!