It's easy to do, relatively safe as people are vetted and money taken through a secure website and a good way to meet new people whilst making pocket money on one side and saving money on expensive accommodation on the other side.
Should this income be declared? YES!
Is tax due on all the income received? NO!
There are 2 different types of rental: a room within your property or an entire self contained property (house, flat, etc.)
If you're renting out a room within your home then this income qualifies for "Rent a room relief" meaning that the first £7500 is tax free.
If you're renting out a separate property from your home then you will need to produce rental accounts. This takes all the income received over the tax year, then all relevant expenditure is removed from this income total to give you the taxable profits that need to be declared to HMRC.
If you would like any help with calculating your accounts to check whether you should be paying tax on your Airbnb income then please get in touch with our friendly team who shall be happy to assist you further on 01275 873948 or by email at email@example.com