Andrew Needham looks at changes to the accounting for VAT in relation to Airbnb transactions following a recent Upper Tribunal decision.
Airbnb-type supplies of holiday accommodation are becoming increasingly popular, and property owners are putting their properties up with these types of companies and websites as well as letting them out directly themselves.
The types of property used range from small flats to large houses. In normal circumstances, the rental of residential accommodation is exempt from VAT, so no VAT is due on residential property rental. However, there are some exceptions to the VAT
