Martyn
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RE: AirBnB rental income
Hello. My wife and I rent out a two bedroom annexe that is on the grounds of our property. Our income from AirBnB was £4,457 from 1 April 2024 - 31 March 2024. 1. As this falls below the threshold of £7,500 does the income need to be included on a self-assessment report? 2. Does my wife need to complete her own self-assessment (she currently doesn't)? 3. I understand that the £1,000 relief can be claimed by us both through the self assessment? 4. What is the right classification for our letting type - its not a room within the main house and it's not a separate property (it uses the services of our family home). 5. How would we apportion running costs in this situation e.g. electricity? Thanks.