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Do I have to pay tax on my earnings?

To comply with the OECD and HMRC regulatory requirements we need to collect certain information from our users, which ensures that our platform aligns with legal and tax obligations.

For more information on these requirements, please consult HMRC. 

Please be aware that, if this information is not submitted, YourParkingSpace may need to temporarily withhold payments to space owners. This is necessary to ensure we can meet our reporting obligations to HMRC on your behalf.

There is a tax-free allowance of £1,000 for earnings made on the sharing economy, anything after this will need to be declared. This is considered a shared allowance across any other platforms which you may earn money through, and YourParkingSpace has no way of knowing your individual tax circumstances therefore must abide by the reporting requirements set out by the governing bodies. 

YourParkingSpace is unable to provide any guidance or direction on your tax obligations. You may wish to consult a tax professional for further support. 

You can ensure the required information is provided by logging in to your account and visiting the tax information area. If you have already provided this information, and wish to obtain a copy of anything sent to HMRC on your behalf, please raise a request through our Contact Us form.