Business Rates
Business rates are a major operational cost for UK jewellers, impacting independent retailers, chains, and workshop owners alike. With ongoing debates around reform and relief schemes, staying informed on changes to business rates policy is crucial for managing overheads and protecting margins in a challenging retail environment.
Jewellery Focus covers the latest news and analysis on business rates, including government updates, industry reactions, and insights into how changes affect jewellery retailers, manufacturers, and suppliers. Our reporting supports trade professionals in navigating this complex area to safeguard their businesses.
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Oct- 2024 -30 OctoberNews
Budget: Increases to employers’ NI and minimum wage
The Chancellor Rachel Reeves has increased Employers’ National Insurance contributions in a bid to help raise as much as £40bn in taxes, pledging to also boost long-term growth and “mark an end to short term-ism” as part of Labour’s first budget since it came into power. Employers’ National Insurance contributions…
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Mar- 2024 -6 MarchNews
Chancellor cuts NI by a further 2p as part of Spring Budget
Chancellor Jeremy Hunt has announced a further 2p cut to National Insurance falling from 10% to 8% from 6 April, as part of his Spring Budget for “long-term growth”. The reduction in National Insurance is expected to save the average worker £450 a year, or £350 for those who are…
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Feb- 2024 -7 FebruaryEconomy
Retail sales slow as high cost of living enters third year
UK total retail sales increased by 1.2% year on year for the four weeks ended 27 January 2023, compared with a growth of 4.2% in January 2023, according to data from the British Retail Consortium (BRC). This was above the three-month average growth of 1.9% and below the 12-month average…
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Nov- 2023 -22 NovemberEconomy
Chancellor cuts National Insurance to 10% alongside NLW rise
Chancellor Jeremy Hunt has announced a series of measures to help boost the UK economy as part of his Autumn Budget including slashing National Insurance by 2% and freezing business rates for retail and hospitality. As part of the new measures, Hunt revealed that National Insurance will be cut from…
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Jun- 2023 -27 JuneFeatures
Jessica Flinn on changes, challenges and trends in the jewellery industry
Can you tell me about yourself and the history of Jessica Flinn? I started Jessica Flinn Designers Limited straight out of university in 2010, so it has been 13 years now, which is absolutely bonkers. I initially started out making stainless steel and silver jewellery, and I would sell it…
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Sep- 2022 -21 SeptemberFeatures
What will happen to luxury spending this winter?
Revenues in the jewellery industry have amounted to $4.03bn (£3.53bn) in 2022, with the market expected to grow annually by 5.6%, according to Statista. The global jewellery market size is expected to reach $518.9bn (£454.87bn) by 2030 and expand at a CAGR of 8.5% from 2022 to 2030, a report…
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Jul- 2022 -13 JulyRetailers
Cost of living crisis starts to impact sales, BRC finds
On a total basis, sales decreased by 1.0% in June, against an increase of 10.4% in June 2021, according to the latest figures from BRC’s sales monitor. This is below the three-month average decline of 0.8% and the 12-month average growth of 3.0%. UK retail sales decreased 1.3% on a…
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Mar- 2022 -23 MarchEconomy
Spring Statement: Chancellor raises NI threshold to £12,570
The chancellor has outlined a series of measures to help combat the rising cost of living in his latest spring statement, including increasing the national insurance threshold by £3,000. Speaking in parliament today (23 March), Rishi Sunak began his speech by warning it is yet unclear what the impact of…
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16 MarchRetailers
Retail sales monitor shows ‘cause for optimism’, Bira says
The British Independent Retailers Association (Bira) has said there is “cause for optimism” after the recent BRC-KPMG retail sales monitor for February 2022 which revealed that UK retail sales increased 2.7% on a Like-for-like basis from February 2021. According to the BRC the performance comes on top of an improved…
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Feb- 2022 -21 FebruaryEconomy
Bira welcomes sales rise, but warns ‘all is not well’
The British Independent Retailers Association (Bira) has said it is “pleased to see a rise in retail sales”, but warned retailers against “falling into the trap of thinking all is well”. It was commenting on the recently released figures by the Office for National Statistics (ONS) for the UK retail…
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