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CYG Homestay income to be tax free

Sat, 16 Jul 2011

Income for Homestay accomodation during the Commonwealth Youth Games will be tax free.

The Department of Economic Development has confirmed that those providing homestay accomodation will not be taxed on their income, providing it does not exceed £1500 over the course of the tax year.

The scheme helps provide additional accomodation during TT and Manx Grand Prix, and this year will also be used during the Commonwealth Youth Games.

477 properties have registered for the Manx Grand Prix and the Games, which take place in September.

All homestay accodomation must be registered with Isle of Man Tourism.

More information on homestay can be obtained by emailing homestay@gov.im

 

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