Information on betterware please? :-)

lozza1985

Just curious as to how you are finding Betterware? Are you enjoying it? Hope that it's going well for you :beer:

PRINCESSX87

lozza1985 wrote: »

Just curious as to how you are finding Betterware? Are you enjoying it? Hope that it's going well for you :beer:

Well i am now up and running. But the TA i'm working with really dont know her job, As she has completely mis-lead me and others.

I rang Inland rev this morning and i'm getting papers dent to me during the week. The other thing that is confusing me, is they have said to me that i have to pay NI payment of £2.10 per week but they will charge me tax over a year.

The thing that is worrying me is:- I dont want to be left with a massive tax bill that i cant pay after a year.

Any idea's?

Many thanks for all help / info given!

Becles

NI can be paid in different ways. I pay by monthly direct debit, so it's either £9.60 or £12 depending on if it's a 4 or 5 week month. They send you a list for the year so you know what will be taken on what dates. You can also pay quarterly and I think you might be able to pay annually but I'm not sure.

You tax is paid yearly. For income this tax year, you will fill in a tax return after April 6th. Then you have until the end of January 2010 to pay the tax due.

As you'll be keeping records of income as you go along, keep estimating what you think your final taxable profit will be. As a rough guide it will be 20% of anything above £6K. That's assuming you don't have another job. If you do and you earn £6K+ in that, you'll pay 20% on everything you earn from Betterware. If it looks like you are going to need to pay tax, then put money aside each month so you have it saved ready to pay the tax bill.

Have a read of the first post on this thread.
http://forums.moneysavingexpert.com/showthread.html?t=1561597
The first few sections relate to mystery shopping, so ignore those, but start reading from the heading "registering for tax". There is some very good help in there, and if you get stuck, pop onto the thread and I'm sure people will be happy to help.

PRINCESSX87

Becles wrote: »

NI can be paid in different ways. I pay by monthly direct debit, so it's either £9.60 or £12 depending on if it's a 4 or 5 week month. They send you a list for the year so you know what will be taken on what dates. You can also pay quarterly and I think you might be able to pay annually but I'm not sure.

You tax is paid yearly. For income this tax year, you will fill in a tax return after April 6th. Then you have until the end of January 2010 to pay the tax due.

As you'll be keeping records of income as you go along, keep estimating what you think your final taxable profit will be. As a rough guide it will be 20% of anything above £6K. That's assuming you don't have another job. If you do and you earn £6K+ in that, you'll pay 20% on everything you earn from Betterware. If it looks like you are going to need to pay tax, then put money aside each month so you have it saved ready to pay the tax bill.

Have a read of the first post on this thread.
http://forums.moneysavingexpert.com/showthread.html?t=1561597
The first few sections relate to mystery shopping, so ignore those, but start reading from the heading "registering for tax". There is some very good help in there, and if you get stuck, pop onto the thread and I'm sure people will be happy to help.

Thanks for that link, had a look and its really helpful!

I have been told to expect earning's of around:-
£2.695 yearly with out bonus / specials?
And around christmas, extra order's and all of around £1.500

So if i could or do make that amount it should be around £4.195.

From looking at that link, does that mean i "should not" get taxed?
After to speaking to Ir, they told me even if i was to only make £50.00 i will get taxed so this is where im confused? lol sorry i'm coming across as dumb.

My childcare business was so much easier! lol

Caroline73_2

The IR probably meant that you would still need to declare it, not actually pay anything if it was only £50 profit.

lozza1985

I imagine they just got a bit confused, perhaps assumed that you already worked full-time, and so therefore would get taxed.

But, if it is your only job, and you earn below the threshold then you won't be - but you would still need to pay your NI. At least that though means that you will be entitled to claim for certain things if you ever needed to.

Glad to hear that it is going ok for you though aside from the tax issues! :j

PRINCESSX87

lozza1985 wrote: »

I imagine they just got a bit confused, perhaps assumed that you already worked full-time, and so therefore would get taxed.

But, if it is your only job, and you earn below the threshold then you won't be - but you would still need to pay your NI. At least that though means that you will be entitled to claim for certain things if you ever needed to.

Glad to hear that it is going ok for you though aside from the tax issues! :j

Thats what i'm hoping too lozza.

ATM i'm only doing betterware, as i lost my job a few weeks back. Then found another, and again lost it as no body can afford childcare, So i'm at a loose end there.

I was thinking of doing a little something extra, after seeing how its went with this one. First put out was a little "downer" as i put out 200 books and got 3 orders.

And apprently i am doing an area that have not had betterware for the last ten years. So i know its going to take a while to build myself up!
But....its no as if, i can do partyplan and bits like that as, All i get given is the catalogues.

Has anyone ever done betterware in the past, and how did they max there earnings?