« Airbnb Hosts Face Tax Probe Spanning Six Years Of Income » : différence entre les versions

hosts have been warned they face criminal prosecution and harsh penalties if they fail to declare income from holiday lets.<br>The online holiday lets giant has been forced to share all of its users' income details with HM Revenue & Customs () as part of a crackdown on the sector, which affects all holiday let owners.<br>This is to help officials identify people who owe tax, with Airbnb handing the tax authority all of its users' earnings data going as far back as the 2017-18 financial year.<br>The data will help HMRC identify those making money from letting their properties without declaring it, as it attempts to gather more information on the burgeoning sector.<br>Since February, HMRC has sent 800 letters to people who it suspects have not paid enough tax, reminding them that they need to disclose income earned from letting out a property through an online rental platform.<br>        Airbnb has handed the tax authority all of its users' earnings data going as far back as 2017<br>[http://dig.ccmixter.org/search?searchp=HM%20Treasury HM Treasury] previously said more than half of people using 'sharing sites' did not think they had to pay tax on the income they made.<br>However, an Airbnb spokesperson said: 'Hosts want to pay their fair share of tax and we want to help, which is why Airbnb partners with industry experts across the UK to help [https://www.business-opportunities.biz/?s=hosts%20understand hosts understand] and follow tax rules.<br>'We also work with HMRC to share information and help ensure that UK authorities receive the taxes they are due, in accordance with UK laws.<br><br>The typical UK Host shares their own home for just two nights a month, and one-in-three say the extra income helps them afford rising living costs.'<br>An HMRC spokesperson added that the reminders are 'routine activity', and added: 'Each year we send out thousands of reminder letters on various areas of tax.<br>'We believe our customers want to pay the right amount of tax and by working with online rental platforms, as well as [https://www.rt.com/search?q=issuing issuing] these reminders, we're taking steps to help make it as easy as possible for people to get their tax right.'<br>In 2018, when the [https://ajt-ventures.com/?s=data%20sharing data sharing] began, the Government said access to the earnings information of those using sites such as Airbnb would make it easier for people to fulfil their tax obligations while cracking down on a 'dishonest minority'.<br>Experts said property owners could face criminal prosecution and penalties of up to 30pc of the tax owed if they are found to have failed to pay income duties.<br>Richard Morley, a partner at [https://www.thetimes.co.uk/search?source=nav-desktop&q=accountancy%20firm accountancy firm] HW Fisher,  the crackdown shows HMRC is concerned that people using Airbnb and other holiday let platforms are not paying the tax needed.<br>He said: 'It's a massive area of risk for HMRC, the whole question of property and rental income that's [https://www.wikipedia.org/wiki/received received].<br><br>Getting information from the likes of Airbnb will be a bit of a goldmine.'<br>If HMRC obtains evidence that tax has been unpaid in a previous year, the tax authority can open an investigation to obtain information going back up to 20 years under so-called 'discovery laws', he said.<br>He said the penalties are 'subjective': if it was deemed to be a 'innocent error', there may not be any penalty at all, but if it was [https://www.purevolume.com/?s=perceived perceived] to be deliberate error [https://realmoneyslots23.com/page/ bokep indonesia] then the penalty can be up to 30pc of the tax owed, he added.<br>People who have earned very large amounts of income or have submitted incorrect tax returns are more likely to be found to be careless.<br>Taxpayers who have not disclosed their income are being encouraged to do so voluntarily via HMRC's Let Property Campaign, which would reduce the amount of the penalty.<br>Those renting properties on Airbnb can make up to £1,000 a year before tax, which is protected by the 'trading allowance'.<br><br>Any profits above this threshold must be [https://www.theepochtimes.com/n3/search/?q=declared declared] to HMRC.<br>People renting out a room in their house rather than their whole property can earn up to £7,500 a year tax-free as part of the Government's 'Rent-a-Room scheme'.<br>Those who choose to evade paying tax which is due could face higher penalties and potential criminal prosecution.<br>The tax probe comes amid a wider crackdown on holiday lets.<br>Holiday home owners will be forced to obtain planning permission to let their properties under government plans expected to come into force later this year.<br>The Department for Culture Media and Sport is also holding a further consultation on a new registration scheme for short-term lets.<br>