Where a room or rooms in an individual’s principal private residence (PPR) are let as residential accommodation and the gross annual rental income is less than €14,000 per annum, this rental income is exempt from Income Tax, PRSI and USC.
Revenue has confirmed their view that income from short term lettings, such as through Airbnb bookings, does not fall within Rent a Room Relief. In fact Revenue advise that income from short term lettings is not rental income but trading or miscellaneous income.
The UK Prime Minister has indicated that Britain could opt for no deal at the end of its exit negotiations with the EU on the basis that “no deal is better than a bad deal”. In such circumstances, the UK would have to fall back on WTO rules, which would involve tariffs. It would also lose free market access to countries with which the EU currently has trade deals.