Rory Hill

Hi, I rent out my flat on Airbnb and I’m looking for clarification on how I correctly pay tax. I have a few specific questions that it’d be helpful to clear up: 1) does Airbnb automatically pass on income information or do I have to file this separately; if so, how do I do this and when? 2) are there any tax allowance that apply if I rent out the entire property? 3) where do I state the costs I incur from renting it out? 4) do I only need to pay tax on the profit? For example, income (£2000 pm) - mortgage & bills (£1700) - servicing costs (£200 p/m) = profit (£100pm) 5) if the property has decreased in value can this be used to offset any profits? If so, how do I report this? Thanks