income from self-employment

Quick Reference

Income of individuals derived from carrying out unincorporated businesses, as sole traders or partners. This is a combination of wages for their own or their family's work, and a return on the capital employed in the business. It can be measured inclusive or exclusive of any imputed income, such as the services of an owner-occupied farmhouse or a flat over a shop. It can also be measured gross or net of depreciation allowances on the capital equipment employed.

Subjects: Economics.

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