HMRC Admin 10 Response

Hi
You can register as a business but for VAT purposes you would need to have a turnover of £85,000 or more and would need to charge VAT for goods and services.
You would need to check How VAT works as to whether you can then claim back the VAT for expenses.

Hi
That is correct.

Hi Peter Olorunnisola
Yes this is legal and any gains would be liable to capital gains tax

Hi
You are required to declare all your taxable income in your tax return even if some of this is covered by allowances.