Insurance
Insurance is a critical consideration for the UK jewellery trade, covering everything from stock and premises protection to customer policies for high-value purchases. For retailers, manufacturers, and wholesalers, navigating insurance options and understanding risk management is essential to safeguard business operations and maintain consumer trust.
Jewellery Focus delivers comprehensive coverage on insurance matters affecting the industry, including regulatory updates, market trends in jewellery-specific policies, and insights from providers serving the trade. We also report on best practices and innovations helping businesses mitigate risk in a rapidly evolving market.
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Jul- 2020 -9 JulyRetailers
Bira ‘disappointed’ mini-budget does ‘not help indie retailers’
The British Independent Retailers Association (Bira) has expressed its “disappointment” that Chancellor Rishi Sunak’s mini-budget does not “directly help retail business owners”. Sunak announced a raft of further measures to support the recovery of the economy following the coronavirus lockdown, in Parliament yesterday (8 July). Features of the budget included…
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Jun- 2020 -30 JuneCurrent Affairs
Government confirms changes to ‘flexible’ furlough scheme
The UK government has confirmed the latest set of changes to its “flexible” furlough scheme – dubbed CJRS V2 – ahead of its launch of the 1 July. HM Revenue and Customs has set out the new guidance as the current version of the Coronavirus Job retention Scheme (CJRS) ends…
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May- 2020 -5 MayCoronavirus
Furlough errors could cost small firms
SMEs are making errors on their applications for the Government’s furlough scheme, meaning they will have to repay thousands of pounds back to HMRC later, accountancy firm UHY Hacker Young has said. The firm explained it has seen many small business applications for the furlough grant that includes the cost…
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Apr- 2020 -24 AprilBusiness Bites
Retail landlords reined in, France gets touch on tax havens, and insurers face biggest ever payouts
The government has banned landlords from using winding-up orders against their retail tenants, after aggressive rent collection tactics which threaten the future of retail businesses came to light. Tens of thousands of businesses in both retail and hospitality have found themselves unable to keep up with their rent during the…
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17 AprilNews
Former NAJ CEO Michael Hoare passes away
The National Association of Jewellers (NAJ) has announced that the former chief executive of the association, Michael Hoare, has died. President of the NAJ, David Doyle, delivered the news “with a heavy heart” and said that Hoare was known to many from serving in the NAJ (formerly the National Association…
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Mar- 2020 -27 MarchAdvice
What we know about furlough leave and the CJRS
HMRC published details of the Coronavirus Job Retention Scheme (CJRS) on 26.3.20 which are available here: https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme Key points include: Employees that employers can claim CJRS for For the purposes of CJRS, the definition of employee would include workers and agency workers provided they are subject to PAYE i.e. this…
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26 MarchCoronavirus
Self-employed to get 80% income grant
Chancellor Rishi Sunak has announced the government will pay self-employed people a taxable grant based on their previous earnings over the last three years, worth up to 80% of earnings, and capped at £2,500 a month. Sunak said it will run for a minimum of three months, with scope for…
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24 MarchAdvice
Coronavirus Job Retention Scheme – Advice for employers
The Job Retention Scheme is a huge incentive for companies to keep employees on payroll. To access the support companies need to classify employees as a furloughed worker, which means they should not undertake any work for the company while furloughed, including answering calls or emails. In exchange employers can claim a grant of…
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17 MarchEconomy
NAJ asks for ‘urgent action’ amid Covid-19 crisis
The UK jewellery industry has urged the government to take “urgent action” as the coronavirus crisis unfolds. The National Association of Jewellers (NAJ) has today sent an open letter to PM Boris Johnson calling for “further clarity and support” on key issues that may affect the industry amid the outbreak. …
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11 MarchBusiness Bites
ROUNDUP: Business rates holiday announced by chancellor Sunak
In his maiden budget, the new chancellor, Rishi Sunak, has announced a £30bn fiscal stimulus package to help combat the impact of coronavirus on the British economy including a one-year total suspension of business rates for small retail, leisure and hospitality businesses. Headline measures include: A £12bn plan to provide…
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