If you work in the hospitality sector, troncs should be a vital part of your business
Tips, gratuities and service charges are an integral part of most hospitality businesses. Historically, the way these have been managed and distributed have varied according to the establishment. Recently, however, increasing pressure from government, and the fall-out from high-profile cases where employees have not been receiving tips, has put the spotlight on ensuring tips are distributed fairly. For employers, the increase in tips made on card payments and the associated costs of processing these, mean that they are looking for low cost, tax efficient solutions.
The answer to both of these dilemmas is tronc schemes.
Saving you money on managing your tips
Troncmasters provide independent troncmaster services to companies in the hospitality sector.
From consultancy advice on the best tronc format and set up, to a fully managed tronc service where we handle set up, processing and distribution of tip payments, we can provide the right tronc solution for your situation.
Backed by HMRC, tax and payroll specialists we understand the compliance requirements. A correctly set up tronc will save on NI contributions which can have substantial savings for your business.LEARN MORE