Tipinc is cleared by HMRC so that we act as your troncsystem and all tips received by your team are treated the same as cash tips.
It is universally accepted that the processing of tips generally incurs a 5% cost to businesses, covering fees, bank charges and third party costs such as Tronc. In a society with less cash, research shows that many customers do not leave a tip if they don’t have cash because they do not trust where their tip will go but if they do know that the team or server receives 100% of the tip, they are inclined to be more generous.
Employer and employee national insurance contributions can add up to more than 25% of the tip! We remove those unnecessary costs from the business and ensure that the team does not incur any national insurance taxes.