• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

120/B7008

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    120/B7008

    does anybody know what tax code for PAYE employment "120/B7008" means? cant find it anywhere on web HMRC? thanks

    #2
    Originally posted by Hitchphil View Post
    does anybody know what tax code for PAYE employment "120/B7008" means? cant find it anywhere on web HMRC? thanks
    That looks like an employers PAYE reference. So this is a unique PAYE reference for the employer.

    Are you looking for the tax code you are on?

    Comment


      #3
      Originally posted by Hitchphil View Post
      does anybody know what tax code for PAYE employment "120/B7008" means? cant find it anywhere on web HMRC? thanks
      It isn't a tax code for the employee, its the PAYE scheme number for the employer paying your wage (company, umbrella or your limited co. depending on how you get paid)

      In the olden days the prefix 120 meant your company PAYE scheme was maanged at HMRC Shipley (Yorkshire); nowadays it has little meaning but is retained as the task of renumbering accounts and processes is too much for somehting that is basically just a unique code.

      The one thing the code you have quoted tells us is that it is a scheme that has been in operation for some time, any PAYE scheme started after 2001 has two letters after the "/" whereas yours only has one letter. Also even before 2001 they moved from 4 numbers to 5 numbers as a standard (they didn't change existing scheme numbers); so with that in mind I guess you are being paid by a company as a temp employee or an agency as a contingent worker - unless your own limited company is at least 20 years old

      Comment

      Working...
      X