Revenue’s treatment of AirBnB hosts, which caused consternation earlier this year, will now lead to a new wave of self-assessed taxpayer according to experts at Taxback.com.

It is estimated that there are thousands of people throughout the country who have rented out their home on the AirBnB platform and the tax experts say that many of these will be PAYE taxpayers who have never had to file a tax return by the  pay & file deadline of October 31st (Nov 12th for ROS).
 
Taxback.com say that these AirBnB hosts are amongst a yearly list of “newbie” self-assessed taxpayers who need to start getting organised.
 
Senior Tax Manager with www.taxback.com, Barry Flanagan commented, "Revenue has stated clearly that any income earned through renting out your room/ apartment/ home through Airbnb will be treated as taxable income and must be declared. And the deadline for filing a tax return for anyone who rented out their property in this way in 2014 is Oct 31st 2015. 

"It can take some time to get the necessary documentation etc. in order so we are advising the people start the process now – because the penalties for non and/ or late filing can be steep. Every year there are new people joining the self-assessed taxpayer category – and not always just for the obvious reasons of being newly self-employed." 
 
Source: www.businessworld.ie