Ask Emma: The taxing issue of renting out a room on Airbnb

Question: I live close to UCD in Dublin, and usually rent a room in my home to a college student each year. However, given that we live quite close to the city centre, I was thinking that I might start renting out the room to tourists instead, using Airbnb. What are the tax implications?

Tom, Stillorgan, Co Dublin

Answer: Tom, your current set-up of renting a room to a student, comes with a ...