During national events such as Wimbledon, many homeowners advertise their driveways or parking spaces to attendees and charge high daily rates, but Richard Morley of BDO’s tax dispute resolution team has warned that this income is taxable.

If homeowners accept cash from attendees for parking and do not declare the earnings, in theory they could face investigation from HMRC and subsequently action may be taken against them. Mr Morley noted: “You may have personal allowances to cover the income in which case nothing is due but if you already pay tax, additional l...