Do I need a tronc audit?

Focusing on the daily operation of your tronc can lead to important details such as HMRC policy changes being missed, putting your business at risk. We can review your existing processes and provide a detailed report that checks if your tronc is HMRC compliant and runs correctly.
HMRC policy changes

HMRC policy changes

HMRC regularly reviews and updates policies that affect tipping and tronc schemes. Without knowing these changes, you could be at risk following HMRC scrutiny. Businesses also evolve organically often meaning the tronc rules in place have been superseded and no longer fit for purpose. If deemed to be distributing tronc monies incorrectly, your business could be susceptible to pay fines and public shaming.

Tax reliefs and exemptions

Are you fully utilising tax reliefs and exemptions?

With HMRC scrutiny a possibility, many businesses are often over-cautious when it comes to taking advantage of tax reliefs and exemptions. There is no need. Businesses should not pay any more tax or National Insurance Contributions (NICs) than necessary. All distributions of Service Charge through a tronc scheme are not subject to employees and employers NICs.

National Living/Minimum Wage checks

National Living/Minimum Wage checks

As National Living/Minimum Wage changes take place every year, it’s important that your business continues to follow legislation and pay the set amount. Allocations from tronc schemes cannot count towards the National Living/Minimum Wage and if found doing so you could face penalties and also public shaming.

How can we help?

How can we help?

We’ll review your existing processes and provide a detailed report that highlights if your arrangement correctly provides an exemption to NICs, complies with National Minimum Wage and National Living Wage obligations and ultimately meets the demands of HMRC. The report will outline any concerns we may have and shall advise you on how to adapt the scheme going forward to make it HMRC compliant and as efficient as possible. We will also provide advice on how you can best utilise your tronc scheme for NIC exemptions and on any potential ways to improve fairness and transparency.

Get in touch

Want to speak to an expert regarding tronc schemes?

Call us today on +44 (0)20 7710 3389 or fill in the form below and a member of our team will be in touch.

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