HMRC is reported to have issued a warning to people who used Airbnb or other short-let platforms to find tenants during the Commonwealth Games in Birmingham.
Local media in the Midlands report that HMRC’s warning was about the tax responsibilities of those who may have let out properties for the first time, and who were unaware of their duty to report the additional income.
The Birmingham Mail says that HMRC has been working closely with three major online booking platforms to share information and advice direct to customers about their tax responsibilities.
Homeowners letting out their property for the first time have until October 5 2023 to register for self assessment. Hosts already registered for Self Assessment need to file their return, declare any income received during the Commonwealth Games, then pay any money owed by January 31, 2024.
On the issue on undeclared income, a HMRC spokesperson says: “The Commonwealth Games was a brilliant showcase for Birmingham and the West Midlands region, an incredible event which saw demand for places to stay go through the roof.
“We want to make sure those who let out their property during the Games are fully aware of what tax they need to pay and how they can pay it – and help make it as easy for them as possible to do so.
"Anyone who made any profit over £1,000 from letting out their home is responsible for telling HMRC. They can do this by completing a Self Assessment tax return on GOV.UK."
Over the 10-day period of the games an estimated five million people came to Birmingham city centre; others are expected to have chosen the area for staycations later in the summer as a result of the publicity given to the city by the games.
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It’s not just landlords or Birmingham it’s individuals as well all over, huge numbers in Kensington & Chelsea where thousands are subletting their Social housing on Airbnb which shares the Information with HMRC by order.
Michael… but what will they do ?? Nothing I will wager, they talk a good game but often fail to deliver.
Michael, you are correct. It is also a problem in seaside areas where this happens. Unfair on the specifically holiday rental properties (with planning consent only for that) who have to follow all the regulations and pay taxes. So personally I hope they do catch up with more of the off books people.
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