AirBNB as only source of income

Thank you to all replies and cremeegg yes thats mainly what I wanted to know I think.

So Self employed with Form 11 and can avail of the lower tax rate (like anyone else with only source of income)
and no company required or property transfer.

That just leaves the VAT side of it which I hope is not a factor, need to look up guidelines on that (I don't see VAT charged on airbnb...)
 
Most Airbnb hosts don't have to charge VAT because their turnover is below the threshold.

If you register for VAT ( you must if you expect your turnover to exceed the threshold) you have to charge VAT on the letting. So €200 becomes €200 plus VAT, €218. However in practice if the going rate is €200 you won't be able to charge €218, so your charge becomes €183 plus VAT €200.

Actually this is an excellent advantage for a small operator versus the larger hotel guest house.
 
Thanks cremeegg again.

Wow odyssey06 that is fresh news this morning and bad news ! many thanks, I will need to inform my potential accountant on this immediately. Bummer !
 
odyssey06 said:
Be aware that you may need planning permission to change use of the property in this manner according to DCC:
http://www.independent.ie/business/...tment-made-79000-through-airbnb-34769131.html
Click to expand...

Interesting development.

In addition to the planning issue, wouldn't the head lease of most apartment developments prohibit this sort of use? Also, I wonder would it potentially impact the block insurance policy?

I have mixed views on the issue. On the one hand, I suppose the availability of Airbnb lets facilitates tourism but I can certainly understand why a long-term resident might be upset if the apartment next door was let to stag/hen parties every other weekend!

Like a lot of the "share economy", I suppose its an area that probably does need some form of regulation.
 
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