HOW THE SCHEME WORKSx
Welcome to the Home Electronics Scheme, which allows you to make significant savings by providing you with home electronic equipment through salary sacrifice. The scheme is open to all full term employees on PAYE payroll (except zero hours contract) where your salary does not go below National Minimum Wage after the reductions. Once you have chosen and ordered your equipment, you enter into an agreement with your employer for a period of 12 months. This consists of a salary sacrifice from your gross (before tax) salary for the value of the equipment you have selected. A salary sacrifice is where an employee gives up the right to receive part of their cash pay due under their contract of employment. In the case of the Home Electronics scheme you are agreeing to accept a lower amount of salary in return for your employer to provide home electronic equipment. The monthly Gross Salary reductions will be made direct from salary through Payroll, starting the month following submission of your order. Payslips will show the Gross Salary reduction for the equipment, but this figure is then subject to savings on National Insurance and NHS Pension Scheme contributions. The scheme is also tax efficient which means that you will save an element of Tax. Actual savings depend on your personal tax situation
