Airbnb agrees to share tax data with HMRC

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 10 October 2020

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

People who let out property using Airbnb have been warned this week that the firm will send HMRC the details of their earnings going back to 2017. It may mean that some hosts will receive surprise tax bills.

Thousands of people who invested in a mini-bond sold by a firm called Wellesley face an impossible choice next week. They must decide if they want the company to go into administration and lose everything, or vote for what is called a Company Voluntary Arrangement and lose nearly everything.

When your vehicle is damaged and it is another driver’s fault it's pretty standard practice for their insurer, not yours, to sort out the repairs to your car but it has emerged that it can leave you without a right to complain or get redress when things go wrong. We speak to the MP calling for change.

Presenter: Paul Lewis Producer: Alex Lewis Editor: Emma Rippon

Transcript

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0:00.0	In Northern Ireland, from the late 70s to the early 90s, the IRA killed over 40 alleged informers.
0:08.0	But the man who often found, tortured and sometimes killed these people on behalf of the IRA
0:12.0	was himself an informer, a secret British army agent with the codename Stakeknife.
0:18.0	Who gets to play God? And why me? Why my family?
0:21.3	When lies are still being told to this day, who do you believe?
0:25.1	I wouldn't even know where to start, and I'm with the IRA.
0:28.5	Steakknife.
0:29.7	Listen first on BBC Sounds.
0:33.5	BBC Sounds, music, radio, podcasts.
0:37.2	Hello, I'm Paul Lewis, and in this Moneybox podcast, another mini-bond investment is in trouble,
0:42.6	and some investors face the choice of losing almost everything or nearly everything in a vote next week.
0:48.4	We reveal the loophole that stops you pursuing a complaint about how an insurance company has treated you
0:53.6	when it gets your car
0:54.8	repaired badly. And Moneybox has seen evidence that the cost of fraud on the coronavirus self-employment
1:01.4	scheme could be up to a quarter of a billion pounds. But first, people who let out property
1:08.1	using the technology platform, Airbnb, have been warned this week that the firm will send the tax authorities details of their earnings going back to 2017.
1:17.8	At the same time, Airbnb has done a deal with HMRC over its own tax, paying an additional £1.8 million in 2019.
1:27.4	Both HMRC and Airbnb say those two deals are completely
1:31.4	separate. Airbnb hosts, though, may wonder if they're now going to be chased for extra payments.
1:37.5	Working out the tax due on income from letting through Airbnb is complex. One moneybox
1:42.8	listener is puzzled. Hello, my name is Chauvin
1:45.9	Palmer from London and we own a house which is in the south of France that we rent out. What I wanted
	...

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