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Here is my definition (not official): someone whose tax affairs are simple enough to do themselves, without specialist knowledge: the benefit of paying an accountant would outweigh the fees paid.

Often:

  • someone who works from home
  • doesn't employ anyone
  • acts as a sole trader
  • turnover not large enough for VAT registration (sales tax). Therefore in UK, turnover typically below £73,000
  • no tangible business assets worth more than £100,000
  • typically, annual business profits below £50,000

None of these items should be taken above as decisive, but taking a "balance-of-probabilities" approach would be sensible.

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Q: What is the definition of Micro entrepreneur?
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