As we are approaching a new Tax year I have been going through the Airbnb income we have made throughout the past 12 months. We have had 4 properties used during the 17/18 tax year. 1 of which we no longer use and 1 that only started at the beginning of February 18. Now, our income from the 4 is at just above £85k. 2 out of the 4 properties are at over 105 days, however the other 2 are below. 1 being at 97 and the newest one being at only 21. My question is, do we need to register for VAT due to this or are we exempt as 2 of the properties are not classed as a FHL?
We obviously do not want to register as it means 20% of our income is about to be taken from us, however we will need to bite the bullet if required.
Thank you in advance.
Starbnb Holiday Home Management