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Unlock your pre-tax pay with Techscheme

Everyday costs are increasing – food, fuel, energy – and now, National Insurance Contributions (NICs) are on to rise too.

Paying more tax is never popular but there is a silver lining. You can now save more money on new tech and home appliances with Techscheme.  

What’s changed?
From 6th April 2022, employees in England and Northern Ireland pay an extra 1.25% in National Insurance. This takes contributions from 12 to 13.25%. The good (and rather unexpected) news is that this tax hike will be offset for many.

During the 2022 Spring Statement, Rishi Sunak announced a primary payment threshold increase coming into place this July. This see’s the amount you can earn before paying NICs rise from £9,568 to £12,570.

How does this impact my pay?
It all depends on your pay, tax code and personal circumstances. As a guide, if you earn up to £30,000 annually, you’ll pay less NICs overall in the 2022/23 tax year. If you earn over £50,000, you’ll pay more.

Regardless of how you fare – most UK workers can cut the cost of their tax bill by taking advantage of workplace salary sacrifice schemes.

What is salary sacrifice?
Salary sacrifice is a way of spending your pre-tax cash on things that directly benefit you. You can use salary sacrifice to contribute towards your pension, gear up to cycle to work or, our personal favourite – to buy new tech and home appliances.

How exactly does salary sacrifice help me save money?
With salary sacrifice, you agree to give up part of your pay in exchange for a benefit, like owning the latest smartphone. This means your annual salary is technically reduced (by the amount sacrificed) and you pay less National Insurance as a positive consequence.

There are three important things to note:

  • A salary sacrifice agreement must be arranged through your employer.
  • Different salary sacrifice schemes attract different levels of savings.
  • The amount sacrificed cannot take your salary below the National Minimum and Living Wage thresholds.

So, what does this all mean for Techscheme?
In short – you save more! You now save up to 13.25% on new tech and home appliances when you shop at Currys with Techscheme. That’s an extra 1.25%.

Whilst it might not sound like much – that additional saving soon adds up. On a £1,000 Techscheme Redemption Code, you could now save up to £132.50 vs. £120 last tax year. That’s £12.50 that’s better off in your pocket.

As well as savings, with Techscheme you benefit from other great affordability perks. You can shop over 5,000 tech and home appliances products at Currys (including smartphones, tablets, washing machines and more) and…

  • Pay nothing upfront
  • Spread the cost interest-free
  • Own the tech you want instantly

Save money on the tech you want with Techscheme and start your request today:

READY TO APPLY?

Signing up is simple and free

To complete your application, you will need:

  • Your employer's name or code
  • Your payroll number
  • An idea of your budget

If your employer is signed up with Techscheme, they’ll have a unique employer code to use when you apply. If not, simply send them an invite using the button below.

You can find your payroll number on your payslip.

Decide on a budget for your new tech.

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