Dictionary

troncmaster en · NOUN

Etymology

From tronc + master.

Meanings

1. The person in charge of a tronc (pool of earnings).
   • No NIC is payable on tips paid through a tronc if the above conditions are satisfied, therefore if the troncmaster operates independently of the employer, no NIC is payable […] 2008, Malcolm James, Taxation of Small Businesses, page 175:
   • The troncmaster is responsible for operating pay-as-you-earn on all distributions from the tronc and is personally liable for tax which he fails to deduct […] 2004, Ronald Staples, Taxation, Volume 152, page 528:

Forms