The Institute of Directors is calling for tax breaks which will make ‘sharing’ websites such as Airbnb even more attractive to suppliers.
The IoD is calling for the government to bring rental allowances in line with personal allowances, so those renting their properties will not have to pay tax on the first £10,000 they earn.
They want this to also be extended to those who use rental sites such as Airbnb to promote their properties, City A.M reports.
The calls follow the government’s commitment to boosting the sharing economy in the UK, but critics including Abta chairman Noel Josephides have been outspoken in their opposition to an area which currently lacks the levels of regulation encountered by traditional travel companies.
Jimmy McLoughlin, the author of the IoD report, said: “The government has made it clear its desire to establish the UK as a global leader in the sharing economy and we welcome this commitment.
“At its simplest, the sharing economy is about letting people make the most of their assets and the government should establish a tax regime that encourages and supports this.”