The Big Brother of Tronc solutions. A Managed Tronc is one where the scheme is registered with HMRC and a Troncmaster is responsible for the whole process including managing the PAYE scheme with HMRC.
Here we take care of the Troncmaster responsibilities ensuring compliance and administration of HMRC regulations and ensuring the members of the Tronc qualify for their NI savings.
A separate PAYE scheme for your Tronc
If you would prefer or already have the more onerous style of Tronc with a separate PAYE, our Managed Tronc service provides the independent Troncmaster you need to qualify for National Insurance savings and a team to take care of the administrative headache and burden.
- Attracts NI savings
- Keeps employers compliant
- Separate PAYE created and managed
- Highest cost to operate
As Troncmasters we are responsible for:
- Working with your employees to create the Tronc
- Building a Tronc constitution
- Agreeing and building the rules around starters and leavers
- Working with your team to develop and codify the tip sharing rules
- Building a customer policy
- Calculating employees share of tips based on tronc rules
- Advising you on amounts to be paid
Organisation is responsible for:
- Advising the value of the tips, gratuities and voluntary service charges each period
- Letting us know about new starters and leavers each period
- Paying employees
Benefits of this solution
As with all our Tronc scheme options, employees receive their NI savings.
With a Managed Tronc scheme employers demonstrate absolute transparency that the Tronc is not managed by them and the Tronc itself reports separately to HMRC. The Managed Tronc service steps in to provide employer independence and to undertake the onerous tasks managing HMRC compliance, not something an employee (acting as the Troncmaster) is usually willing to do.
The downside to this approach is costs due to the increasing administration involved.
Find out more
Want to find out more about our managed tronc option?Contact us
Don’t miss out
Keep up to date with the latest legislation, advice and tips