Setting up a business as a hobby - advice please
I have been married 6 years and have 2 kids and have supported them on my job. I will be moving back to UK in the next couple of months and thinking this might be an opportune time for my wife to start a business but as a hobby. The plan would be to buy from carboots, charity shops, auctions, ebay (local items which are collection only) or what have you and sell it over facebook, ebay, etc. As I said, I have supported us thus far so it doesn't need to be making any serious money (certainly initially) as I will continue to pay the bills and put food on the table and she will work from home. I am thinking of starting on a very small scale as in give her £100 with the view to doubling it in the first month. This is more as something to occupy her time and make her feel useful than to keep a roof over our heads.
So, the questions:
At what point would she need to declare herself self employed? (time limit or earnings cap)
At what point would family tax credits and child benefit be affected? (there's no point 'investing' in things and earning £100 if that loses us £95 for example)
Plan to use a vehicle we already have and this will not be its sole role; can we segregate fuel costs and the extra that business insurance on it would cost for the Tax Self Assesment Form or would it be simply an input and output of bought and sold items?
Bit of an odd one I know but any knowledge in this area would be appreciated.
1972 VW 1303 "Princess Fiona"
1979 VW B1 Passat "Dusty"
1987 VW B2 Passat "Sphinx"
1988 VW T25 Panel Van "Murdoch"
1997 VW T4 Panel Van "Gene Genie"
2004 VW Passat Highline (unnamed)
And some non-VWs but who cares about those? lol