Chancellor George Osborne has announced a tax break for those renting their apartments on sharing economy platforms like Airbnb.
From April 2017, Airbnb owners will not need to declare the first £1,000 of rental earnings.
In separate news, from April 2016 people who rent their spare room can earn £7,500 per year tax free.
An Airbnb Spokesperson comment: “The UK has set itself as a global leader for the sharing economy and is introducing progressive new rules that empower regular people and promote innovation through technology”.
Peter Kent, The Guest Butler added: “My clients already earn up to 50% more than via long-term lets and these tax breaks make the benefits even greater”.
To find out more about renting your property on Airbnb and our no hassle management services please call Peter today on 07919066516.