Payroll
Payroll is a critical operational function for jewellery businesses, impacting cashflow, compliance, and staff satisfaction across retail, manufacturing, and supply sectors. From managing wages and pensions to navigating PAYE regulations and payroll software, jewellery companies must ensure accuracy and efficiency. Jewellery Focus reports on payroll-related developments including legislative updates, HMRC guidance, automation tools, outsourcing trends, and financial planning advice. Our coverage supports owners, finance managers, and HR professionals in staying compliant, reducing administrative burden, and fostering stable employment practices across the jewellery trade.
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Sep- 2025 -8 SeptemberRetailers
Beaverbrooks sees sales and profits fall amid ‘challenging environment’
The Beaverbrooks Group has reported a fall in turnover and profit for the year to February 2025, but said it remains committed to investment and charitable giving as it marked £25m in donations since 2000. The family-owned jeweller recorded group turnover of £217.3m, down 3% from £224.3m the previous year.…
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Sep- 2023 -18 SeptemberRetailers
Beaverbrooks reports ‘record’ turnover of £225m
National family-owned jewellery, diamond and watch retailer, Beaverbrooks, has announced “record” turnover of £225m in its latest accounts (March 2022 to February 2023), an increase of 11.4% on the previous year. Its operating profit also amounted to £25.7m. Beaverbrooks said that despite the effects of the cost-of-living crisis and uncertain…
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Oct- 2022 -17 OctoberEconomy
Chancellor reverses almost all mini-budget tax cuts
Newly appointed chancellor Jeremy Hunt has reversed almost all of the mini-budget commitments made by previous chancellor Kwasi Kwarteng last month, in a statement made at the Treasury today (17 October). He confirmed the basic rate of income tax will remain at 20% “indefinitely” until the economic situation stabilises, marking…
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Nov- 2020 -26 NovemberNews
Beaverbrooks reports annual turnover rise of 12.4%
Beaverbrooks has released its latest financial statement for the full year to 29 February 2020, which saw its annual turnover increase 12.4% to £143.2m from £127.4m last year, reflecting the sixth consecutive year of growth for the organisation. During the same period, the jewellery company also reported its operating profit…
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Oct- 2020 -7 OctoberCoronavirus
Businesses must check furlough inaccuracies before HMRC deadline
Businesses using the furlough scheme have been urged to “thoroughly check” their claims for inaccuracies before HMRC’s cut-off date to avoid the risk of fines or prosecution. Accountancy firm Kilsby Williams issued the warning after HMRC sent letters to a growing number of businesses to inform them of potential errors…
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7 OctoberEconomy
Businesses must check furlough inaccuracies before HMRC deadline
Businesses using the furlough scheme have been urged to “thoroughly check” their claims for inaccuracies before HMRC’s cut-off date to avoid the risk of fines or prosecution. Accountancy firm Kilsby Williams issued the warning after HMRC sent letters to a growing number of businesses to inform them of potential errors…
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Sep- 2020 -3 SeptemberAdvice
HMRC and Covid-19: One hand giveth, the other taketh away
One hand giveth HMRC was responsible for overseeing and implementing the Government’s Coronavirus Job Retention Scheme (“CJRS”) and other furlough schemes. Its ensuring that monies were paid under the Government’s various furlough support schemes has been impressive. Although the guidance on who was entitled to monies under the CJRS was…
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Jun- 2020 -23 JuneFeatures
Coronavirus: The jewellery industry’s story
At the time of writing, the UK’s embattled high street has been given a glimmer of hope, after prime minister Boris Johnson announced plans on 25 May to allow non-essential retailers to open by mid-June. The announcement will be welcome news for many jewellers who have struggled over the past…
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Apr- 2020 -22 AprilAdvice
Will there be coronavirus help for small company directors who are paid by dividend?
The financial plight of limited company directors has been raised by the Tory chairman of the Treasury select committee. Mel Stride, a former Treasury minister, said chancellor Rishi Sunak needs to view company directors as a tranche of people who have ‘slipped through the net’ of all the other largesse…
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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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