Yes. Although that may cause confusion about whether the intended amount was 1340 pence, for example 13 pounds and 40 pence, or 1300 pounds (missed out) and 40 pence.
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£166,349.45
£12.05
8,880 pence.
It could mean: 808,880 pence
£82.20 is 8,220 penceeight thousand two hundred and twenty