Tracyann Norfolk UK

[Tracy-Ann2]

Hi, I am relatively new to hosting 9 months.  I am in the process of adding up all my income and outgoings ( expenditure) . I have printed out the list of income but having trouble knowing how much ( what percentage of the house bills) to add for:-

electricity

gas heating

water

council tax

can anyone advise please? My return has to be in to the tax office in two weeks. ( end of January).

would appreciate the heads up from people.

thank you

[Mike-And-Jane0]

@Tracy-Ann2 Can the room be accessed from the house?

[Mike-And-Jane0]

@Tracy-Ann2 Far more importantly when did you start hosting? Your reviews only go back to May 2021 so the tax year for these doesn't finish until April 5th 2022 and you don't need to submit a tax return for these stays until January 2023 although it is never a good idea to leave it too late!!!

[Helen3]

Have a look on the HMRC website for a list of allowable expenses @Tracy-Ann2 

Might be worth using an accountant for the first return to help you allocate expenses correctly.