188体育

What is an enterprise

It should be recognised that the term 鈥榚nterprise鈥� as used in the European recommendation is a broad term covering much more than a person carrying on a taxable trade. An enterprise is any entity engaged in an economic activity, irrespective of its legal form.

EC Recommendation 2003/361/EC defines an enterprise as:

鈥樷€ny entity engaged in an economic activity, irrespective of its legal form. This includes, in particular, self-employed persons and family businesses engaged in craft or other activities, and partnerships or associations regularly engaged in an economic activity鈥�.

We are most likely to be concerned with companies, but the term can also cover charities, universities, statutory bodies, government and the like. So, for example, a company owned by a large charity can fail the SME test, because the charity is an enterprise.