Are your clients asking for your advice on setting up a tronc scheme to manage their service charge and tips distribution?
Maybe they are wanting you to run the scheme alongside their payroll?
Interest in tronc schemes, and the National Insurance savings they allow, is becoming an increasingly hot topic since the passing of the new Allocation of Tips Bill, which will lead to new legislation in future.
Distributing tips through a tronc scheme means;
We provide consultancy and managed Troncmaster services for all types of businesses in the hospitality sector, from luxury hotels and multi-site chains through to independent outlets. If they take pooled tips or discretionary service charges, we can help them set up and manage an ethical and compliant tronc scheme.
We work with accountancy practices to support them in providing compliant advice on the set up and structure of a tronc scheme and on managing that tronc scheme if clients wish to outsource this.
If you don’t have the specific expertise nor resource bandwidth in your practice, this can be one more stress you could do without, but that can seriously improve your clients’ profit margins.
We work in a couple of different ways to help you provide a great tronc service for your clients.
If you are processing the payroll for your clients, we can provide Troncmaster Services on your behalf. Working with your payroll team we will have access to our secure cloud systems to easily upload and access the tronc distribution information.
You can refer any tronc enquiries to us as a trusted partner. You don’t need to get involved; we will deal with the client directly. We can even provide a referral fee for successful introductions.
Request a call back from one of our Troncmasters team who will be happy to discuss options and talk through how we have worked with other accountancy professionals
Troncs have been around for a while and in principle they are simple, yet the nuances of how they are set up, implemented and managed are far from simple. When we are contacted by employers looking to set up or review their tronc, it is often evident that there are common misconceptions and errors across the industry.
Our team of Troncmasters have put together the ultimate tronc Q&A based on the essential questions we get asked and the answers to ensure a fair, ethical, and compliant tronc scheme.
