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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.
Compensation plans in Network Marketing – an overview
If you’re considering pursuing an opportunity in Network Marketing, you will sooner or later come across an organisation’s compensation plan. Compensation plans are essentially the framework according to which you’re going to get paid. As we’ve explored before in a previous blog, income for...
Is it too late to file my self-assessment tax return?
The January deadline has been and gone and if you’re one of the 2.3 million taxpayers who haven’t submitted their 2020/21 tax return as of yet – don’t panic. Extended deadline Earlier on in the year, HMRC announced that they would be waiving late filing penalties for self-assessment tax returns...
5 New Year’s Resolutions every Network Marketer should make
Do you have New Year’s Resolutions? The start of a new year is the ideal time to pause and reflect on what is and isn’t going so well for your Network Marketing business. Whether you’re new to Network Marketing or are an established distributor, it’s always worth considering what you would like to...
Making Tax Digital for Income Tax Self-Assessment – What Network Marketers Need to Know
Making Tax Digital, or MTD for short, may have fallen under the radar since the COVID pandemic hit, but the government’s drive towards digital tax records and digital returns is still pressing ahead, albeit at a slower pace than initially outlined. Here, we look at what changes are coming for the...
An interview with Amway business owner Trevor Lowe
We catch up with Amway business owner Trevor Lowe to find out more about his journey in Network Marketing and working with PRB Accountants. PRB: Hi Trevor, tell us a little bit about your professional background and how and why you got into network marketing. I am a Biochemist by profession. My...
Passive Income – what it is and how to generate it
Along with side hustles, SheEO and boss babe, passive income is another buzz word commonly found in the Network Marketing industry. But what exactly is it, and how do you go about generating passive income? What is passive income? Passive income is income that you receive without any active...
An interview with Naomi Morgan Tolworthy of Arbonne
We catch up with Arbonne business owner, Naomi Morgan Tolworthy, to find out more about her journey in Network Marketing and working with PRB Accountants. PRB: Hi Naomi, tell us a little bit about your professional background and how and why you got into network marketing. Hi, well my background...
Network Marketing – is it right for you?
You may have been approached by an acquaintance, friend or family member with a ‘business opportunity’ that sounds appealing. After all, the thought of having a flexible job that provides an ongoing income and can be done flexibly around other commitments would appeal to many people. And you...
How much does it cost to hire an accountant?
Let us start off by saying that not everybody needs an accountant and there are many business owners who are perfectly happy managing their tax returns, bookkeeping and annual accounts themselves. If, however, you are reading this because you are toying with the idea of getting a professional to...
What Trading Style is best for my Network Marketing Business?
An area that leaves many Network Marketers stumped is which trading style or business structure they should go for when setting up their business. When we talk about trading styles, we mean the legal structure of an organisation. There are 4 main types in the UK, and we look at their key features...
A New Tax Year and What it Means for Network Marketers
You may have heard the term ‘tax year’ used before, but what exactly is it, and how does it affect you as a Network Marketer? Well, the date is important because it has an impact on how you manage and organise the financial affairs and accounts for your Network Marketing business. If you are...
What the Uber ruling might mean for Network Marketers
Earlier this year, the UK’s Supreme Court gave its judgment in the Uber worker status test claim. It ruled that the 25 Uber drivers that brought the case in 2016 are not independent contractors but are deemed workers and therefore entitled to minimum wage and holiday pay. What’s this got to do...
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