John Whiting, Tax Partner, PricewaterhouseCoopers, who led the work for the BHA with the Revenue on tips and troncs, explains the final outcome of the long-running arguments
John Whiting Tax Partner PricewaterhouseCoopers who led the work for the BHA with the Revenue on tips and troncs explains the final outcome of the long-running arguments
The tax treatment of tips and troncs is a big issue in the hotel and restaurant industry among others. Troncs1 can be outside National Insurance contributions (NICs) but there have been many occasions in recent years where visits by the Inland Revenue have resulted in claims by them for NICs on tronc moneys. As such claims often go back a number of years the amounts involved can be very significant for many businesses with a...
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John Whiting, Tax Partner, PricewaterhouseCoopers, who led the work for the BHA with the Revenue on tips and troncs, explains the final outcome of the long-running arguments
John Whiting Tax Partner PricewaterhouseCoopers who led the work for the BHA with the Revenue on tips and troncs explains the final outcome of the long-running arguments
The tax treatment of tips and troncs is a big issue in the hotel and restaurant industry among others. Troncs1 can be outside National Insurance contributions (NICs) but there have been many occasions in recent years where visits by the Inland Revenue have resulted in claims by them for NICs on tronc moneys. As such claims often go back a number of years the amounts involved can be very significant for many businesses with a...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
