Form 12 Airbnb income query

FledNanders

I have to submit a form 12 for my Airbnb income for 2018 (less than €5k).

My partner and I live in the property together, she is a low earner (works part time) and I am a higher rate tax payer

My question is is it legitimate to put all the income through under my partner's income for 2018 and so pay tax on the income at the marginal rate?

She owns 66% of the property and I own 33%, and we are not married. And the Airbnb account is in my name.

Thanks

mystic86

FledNanders wrote: »

I have to submit a form 12 for my Airbnb income for 2018 (less than €5k).

My partner and I live in the property together, she is a low earner (works part time) and I am a higher rate tax payer

My question is is it legitimate to put all the income through under my partner's income for 2018 and so pay tax on the income at the marginal rate?

She owns 66% of the property and I own 33%, and we are not married. And the Airbnb account is in my name.

Thanks

No.

longgonesilver

For safety reasons the account is in a mans name.:rolleyes:

Whose bank account was the money lodged into?

Who did the work associated with the guests?

Firblog

Would you not pay your partner for all the work she did for the AirBnB? say 4.5K, which she would declare and be taxed on at the 20% rate? I'm sure you would have spent €500 on heating, insurance, electricity, cleaning products, laundry etc for the year an so may not have to pay any tax on that 500 at all..., would you be fit to claim tax back if you actually made a loss?

FledNanders

longgonesilver wrote: »

For safety reasons the account is in a mans name.:rolleyes:

Whose bank account was the money lodged into?

Who did the work associated with the guests?

There was no specific reason the airbnb account is in my name, it just happened to be set up like that, although we both share the proceeds equally.
We both live in the house so do equal work associated with the guests.

Money was paid to Paypal in my name

CIARAN_BOYLE

FledNanders wrote: »

There was no specific reason the airbnb account is in my name, it just happened to be set up like that, although we both share the proceeds equally.
We both live in the house so do equal work associated with the guests.

Money was paid to Paypal in my name

If drawn for audit you can be lucky and unlucky.

I would suggest that given the airb&b account is in your name and it is paid to your PayPal account there is no way that you would get out of claiming that the income is in some degree yours. Some revenue inspectors would argue its fully yours.

Most would accept that its merely an administrative thing and as you share in the proceeds equally and do equal work the benefit is 50/50 therefore its joint.

longgonesilver

Were there purchases paid out of the PayPal account?

Who appears to be the beneficiary?

FledNanders

longgonesilver wrote: »

Were there purchases paid out of the PayPal account?

Who appears to be the beneficiary?

The money was sent from my Paypal account to my bank account, then from there a portion was either sent to my partner's account or else to our joint account.