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News – 19.12.24
Buzzacott advises Rose Street Partners on its investment in Kenwood Damp Proofing PLC
Discover how Buzzacott supported Rose Street Partners on its investment in Kenwood Damp Proofing PLC … Read more
Insight – 18.12.24
Start-up guide: Everything you need to know about Tronc schemes to set your new hospitality business up for success
One challenge for new hospitality businesses is the management of tips and service charges. … Read more
Upcoming event – 16.01.25
VAT on Private School fees training
This in-depth, interactive training seminar is designed to provide school administrators, bursars, finance officers, accountants, and trustees with tailored support and expert insights on the practical implementation of VAT. … Read more
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130 Wood Street, London, EC2V 6DL
enquiries@buzzacott.co.uk T +44 (0)20 7556 1200
Having Buzzacott as your independent troncmaster safeguards you from any HM Revenue & Customs (HMRC) challenge. Our independent tronc schemes are completely transparent, conform fully to HMRC requirements and the pending Employment (Allocation of Tips) Bill, provide an exemption from National Insurance Contributions and offer significant savings to employers and staff.
Choosing Buzzacott as your external troncmaster relieves your staff of the administrative burden of running the tronc and lets them focus solely on their daily tasks at hand, which as we know can be difficult at the best of times. Many of our clients, from bars and restaurants to hotels and casinos, benefit from having a simplified process in place that saves both their staff and business money.
An independent troncmaster ensures the tronc is not influenced by employers, nor by bias or favouritism, and represents what’s in the best interest of all employees. Sharing tips, gratuities and service charges fairly makes staff feel valued and improves morale across the business, often leading to increased staff retention and a better service provided to customers. With pending legislation on the horizon, this is now more important than ever, as the Employment (Allocation of Tips) Bill focuses on the fairness and transparency of tip allocations.
We understand the struggles that many businesses go through with recruiting and retaining staff, and the labour shortage in the hospitality industry only amplifies the matter. Our independent troncs are bespoke and tailored to assist you in recruiting, retaining and incentivising employees, giving you one less thing to worry about.
Buzzacott has been efficient and proactive, particularly in meeting deadlines, and their added value support on implementing tronc was phenomenal. They have just the right balance being flexible, easy to deal with yet having all the key strengths, attributes and rigour necessary to support our restaurant. I am particularly indebted to Samantha Newton and Mark Taylor who were committed to and successfully executed the challenge of implementing tronc in under four weeks from the appointment, a tremendous achievement. I look forward to many more years working with Buzzacott.
Client
With the Employment Allocation of Tips Bill (Tipping Act) and Code of Practice set to come into force on 1 October 2024, it's crucial for your business to adequately prepare for compliance. Download our free checklist today to ensure you're ready for the upcoming changes.
Call us today on +44 (0)20 7710 3389 or email troncmaster@buzzacott.co.uk. Alternatively, fill in the form below and a member of our team will be in touch.
What is a tronc scheme?
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Mark Taylor
Tipping Code of Practice – October 2024
Owen Russell
Hotels must prepare for new tipping legislation
