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Network Marketing Blogs
Browse our collection of monthly blogs on all things Network Marketing. In this area, you can find out about industry and company news, top tips to succeed in Network Marketing and read useful guides to ensure your tax and bookkeeping practices are up to date.
Network Marketing and VAT Registration
The current compulsory VAT threshold in the UK is £85,000 – in other words, if your annual turnover exceeds that level you are obliged to register for VAT and complete quarterly VAT returns. In the case of Network Marketers, turnover is the aggregate of product sales and commissions received. If...
Cash flow solutions for small businesses
Most small businesses will suffer from cash flow issues at one point or another. Effective cash flow management is one of the most important factors in running a successful business. After all, even if your sales are growing, if you have more expenses than income, you may not be able to pay your...
How to offset losses from your Network Marketing business
In the early days, your Network Marketing business may not be making a profit and therefore incur a loss. Making a loss simply means that expenses are greater than your income. Whilst business owners would all love to make a profit from the outset, it is very common to incur expenses and make a...
How much money should I put aside for tax?
A question we commonly encounter when advising our Network Marketing clients on their tax affairs is how much money they should put aside to pay for their taxes. Initially, when you first set up your business you may not make a profit and therefore you do not need to pay tax. Once you start making...
Network Marketers and Black Friday Deals
With Black Friday coming up later this month, you may wonder if you should jump on the bandwagon and offer Black Friday discounts for your customers. There will no doubt be a deluge of promotional offers hitting everyone’s inboxes - and whilst some bargain lovers eagerly await Black Friday, there...
Paying yourself from your network marketing business
Network Marketers are their own bosses. The vast majority are self-employed and operate either as a sole trader or partnership. And that is part of the appeal of having your own MLM business – the freedom to run your business as you see fit, within the hours that suit you, without having to report...
Tax return checklist
With tax return season looming, we’ve rounded up some helpful tips to get you started and ensure that the end of January deadline doesn’t leave you stressed and overwhelmed. As a reminder, you have until 31 January 2020 to complete your tax return for the tax period of 6 April 2018 to 5th April...
Meet the network marketing team
In this blog, we would like to introduce you to those members of our team who work with our Network Marketing clients, many of whom have been with PRB for years - if not decades! Over the years, our small team have developed an in depth understanding of the sector in general and client businesses...
Frequently asked questions – Network marketing and tax
Question: Can I claim my gym membership and clothes as a business expense for my health product network marketing business? Answer: Unfortunately not, as they are not wholly and exclusively for the business. Generally speaking, you can claim for expenses that you incur as part of your business set...
How do you make money in network marketing?
Companies such as Avon, Forever Living, Amway and Ann Summers have been around for many years and have grown into internationally successful, reputable businesses. Whilst at first glance they may not have much else in common, they all share the same business model – Network Marketing, or...
Case study – PRBookkeeping
An Amway Distributor tells of her experience using bespoke bookkeeping software PRBookkeeping. Amway business owner M. started her direct selling business around 8 years ago and now leads a team of around 100 downlines. She initially fell into the business through her husband and loved the...
Top tips for working from home
Working from home and flexible working are increasingly becoming popular ’perks’ that businesses across all industries offer their workforce. Flexible working hours and locations have been commonplace in Network Marketing for decades and are in fact one of the reasons that people are initially...
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