@Christine1426
Thank you for the useful post. I have an accountant, mostly because I don't want to make mistakes but also because I'd never get it all done if I didn't have someone pushing me!
As I host in my own home, I originally just expensed the bigger things, like a percentage of the utility bills. However, over time, I have learnt to consider things like laundry detergent as there is no way I'd be using that much if I didn't have all those sheets and towels to wash.
However, I've never heard about the depreciation element. Does that apply to hosts that rent rooms in their main residence and does anyone know if this applies in the UK? I have never heard about it before.