Raising money for an individual

Saajay

Hi
I run a home education program for my autistic son x I raise money to fund it and have a simple treasurers account.
I have started making weighted blankets to raise money (they are a product that helps some people with sensory problems relax)
I want to get insurance (public and product liability) but am finding that I need to be a business.

As I am caring for my son full time at the moment I am on benefits and don't have the time to make enough blankets to make it a business. To continue to fund raise I would like to set up some sort of thing (not sure what it is ) to enable me to make around £60 a week making balnkets when he is in bed so that it is not my income and all goes to his fund x

I hope in the future that I will have time to make a profitable business to support us but for now this is the best way I can see to make some money to help him x

Does anyone know how to do this x I know that I can't be a charity as I am only benefiting one person.

Any help would be much appreciated
Thank you xx

InsideInsurance

Saajay wrote: »

I want to get insurance (public and product liability) but am finding that I need to be a business.

You are a business, you will be a sole trader unless you create some other legal structure to operate under. If you dont want to go down a private limited company or limited by guarantee route you'd need to register with HMRC as a sole trader and complete annual self assessment tax returns.

It is probably worth getting a bit of tax advice from someone more knowledgable than I to advise on the most efficient route for you to take.

terra_ferma

Saajay wrote: »

Hi
I run a home education program for my autistic son x I raise money to fund it and have a simple treasurers account.
I have started making weighted blankets to raise money (they are a product that helps some people with sensory problems relax)
I want to get insurance (public and product liability) but am finding that I need to be a business.

As I am caring for my son full time at the moment I am on benefits and don't have the time to make enough blankets to make it a business. To continue to fund raise I would like to set up some sort of thing (not sure what it is ) to enable me to make around £60 a week making balnkets when he is in bed so that it is not my income and all goes to his fund x

I hope in the future that I will have time to make a profitable business to support us but for now this is the best way I can see to make some money to help him x

Does anyone know how to do this x I know that I can't be a charity as I am only benefiting one person.

Any help would be much appreciated
Thank you xx

Here's some info, hope it helps:

http://www.hmrc.gov.uk/charities/vat/index.htm
http://www.scvo.org.uk/information/organisational-structures/setting-up-a-company-limited-by-guarantee/
http://www.ukincorp.co.uk/s-18-uk-guarantee-company-formation.html#6

Wywth

Saajay wrote: »

Hi
I run a home education program for my autistic son x I raise money to fund it and have a simple treasurers account.
I have started making weighted blankets to raise money (they are a product that helps some people with sensory problems relax)
I want to get insurance (public and product liability) but am finding that I need to be a business.

As I am caring for my son full time at the moment I am on benefits and don't have the time to make enough blankets to make it a business. To continue to fund raise I would like to set up some sort of thing (not sure what it is ) to enable me to make around £60 a week making balnkets when he is in bed so that it is not my income and all goes to his fund x

I hope in the future that I will have time to make a profitable business to support us but for now this is the best way I can see to make some money to help him x

Does anyone know how to do this x I know that I can't be a charity as I am only benefiting one person.

Any help would be much appreciated
Thank you xx

The moment you decided to manufacture and sell your first blanket, you were running a business.

Of course, proiper insurance is vital for any business. Are you certain you need public liability insurance? This normally covers accidents involving the public that occur directly due to your business activities. Presumably you are manufacturing the blankets from home. If so have you informed your home insurance (and your mortagage company or Landlord is applicable) that you are now running a business from the premises? It may well be that (once informed) your home insurance covers such public liability unless you sell your products to customers that visit your home which may raise a whole load more issues. But I'm guessing you sell mail order.

Product liability insurance for the product you are manufacturing is vital.

Annisele

I think you might struggle to show the income your sons and not yours.

All parents of (young) children have to spend money on feeding/housing/clothing those children - but the income they use to do it is the parent's income and not the child's.

As others have said, you're already running a business. It sounds as though it's a pretty small one, but it's still a business.

If the issue is how to keep benefits while starting a small business, you might be better off posting over on the benefits board.