Entry from British & World English dictionary
Definition of tax code in English:
A code number representing the tax-free part of an employee’s income, assigned by tax authorities for use by employers in calculating the tax to be deducted under the PAYE system.
- Check with the Inland Revenue that your tax code is correct for your circumstances.
- All employees, and many pensioners, should have a tax code.
- Employers and pension providers are told how much tax to deduct by your tax code.
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