To meet pressure on the demand for accommodation, the Department of Economic Development is pleased to announce that Treasury has granted approval for the extension of the tax free income limit for the Homestay Scheme to cover the Commonwealth Youth Games, which take place from 7th to 14th September. This means that if your total income received for providing Homestay accommodation during the 2011/12 tax year including the period of the Games does not exceed ?1,500, it will be exempt from income tax. The Isle of Man Homestay Scheme is a well-established initiative which has been designed to supplement registered accommodation in the Isle of Man such as hotels, guest accommodation and self-catering during the busy TT and Manx Grand Prix festivals. This year 704 properties were registered for the TT Festival and 477 have registered for the Manx Grand Prix and Commonwealth Youth Games periods combined. Minister for the Department of Economic Development, Allan Bell MHK, said: ‘Our Island is busy gearing up for the Commonwealth Youth Games in September and it is most important that this greater demand for accommodation is met. Homestay registered accommodation is inspected and insured by Department Officers and this tax-free income is a fantastic incentive to encourage people to help out. It will surely add to the success of this important event.’ Geoff Corkish MBE, MHK, Political Member for Isle of Man Tourism, said: ‘We are looking forward to welcoming visitors from all over the world for the Commonwealth Youth Games. By implementing the Homestay scheme, in addition to existing visitor accommodation, it gives us the opportunity to extend a genuine warm Manx welcome and it will enable competitors and visitors to the Games to learn about our great heritage and culture as well as sharing our way of life.’ Isle of Man Tourism emphasises that there is a legal requirement for all people accommodating paying guests in their homes to be registered. The cost of registration is only ?8.00. Homestay providers are asked to advise Isle of Man Tourism if they take any bookings or are full, so that the website can be kept up to date. For further information contact Pippa Gilbert, Tourism Homestay Officer on 01624 686802 or email homestay@gov.im. Ends