- This topic has 1 reply, 2 voices, and was last updated 1 month ago by .
- You must be logged in to reply to this topic.
Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>
Can you tell what exactly the term ‘trading profit of the self-employed’ means? Actually, I am not good at english. According to me, it means a small independent business like a shop. My earnings from my shop is trading profit of self-employed. Am I correct?
you are self employed if you run your own business and yes a shop would be a small business. As the business is trading it will make a profit.
If you work at the shop but it is owned by someone else then your earnings are as an employee and you will recevie a wage for the work you do.
I hope this explains.