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Four in ten businesses believe profitability will reduce over the next year

11 Oct 2022

The British Chamber of Commerce’s Quarterly Economic Survey (QES) for Q3 2022 shows a significant decline of key economic indicators, with weakening structural business conditions and... Read more…

UK retail sales growth at its lowest since Covid-19 lockdowns ended

10 Oct 2022

Britain’s retailers in September saw their sales grow by the slowest rate since shops reopened after the end of Covid-19 lockdowns, as consumers cut spending in the face of rising energy... Read more…

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6 Oct 2022

To coincide with Cycle to School Week, Sustrans has been calling on local authorities and Central Government to guarantee protected cycle lanes on main road routes to schools.
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Government accused of not consulting cycling bodies over National Trail overhaul plan

5 Oct 2022

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FCA to hold webinar on new Consumer Duty

5 Oct 2022

The Financial Conduct Authority has confirmed plans to introduce a new Consumer Duty that will set higher and clearer standards of consumer protection across financial services and require firms... Read more…

Three quarters don’t expect police to bother investigating bike thefts

4 Oct 2022

More than three quarters of British people do not believe the police would bother to investigate instances of bicycle theft, a new YouGov survey has found.
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Paper £20 and £50 Notes No Longer Legal Tender

4 Oct 2022

Paper £20 and £50 notes are no longer legal tender.
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Indie retailers doubt Liz Truss will help the high street

29 Sep 2022

New research from Ankorstore, an online B2B platform that connects brands and shops in Europe, has shown that independent retailers are relying on the support of local shoppers, rather than the... Read more…

Retail industry reacts to Chancellor’s mini budget

26 Sep 2022

Following the Chancellor’s mini-budget last week, the retail industry has been reacting to the support package for small businesses and independent shops….including some of the... Read more…

Indie Bookshops gear up for Bookshop Day

26 Sep 2022

Bookshop Day – the annual celebration of bookshops big and small taking place across the UK and Ireland – is coming up on Saturday 8 October and in many parts of the country plans... Read more…

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Paper £20 and £50 Notes No Longer Legal Tender

Posted on in Business News, Cycles News, Creative News, Outdoor News

Paper £20 and £50 notes are no longer legal tender.

money notes

There are approximately 163 million paper £50 banknotes and about 314 million £20 paper notes still in circulation. These are being replaced with the new polymer £20 notes featuring J.M.W. Turner, and polymer £50 notes featuring Alan Turing. The new polymer notes are now the only ones with legal tender status.

People with a UK bank account will still be able to deposit withdrawn notes into their account.

The new notes, which have been introduced over the last two years, complete the Bank of England’s first polymer series. The introduction of polymer banknotes allows for a new generation of security features which make them even harder to counterfeit. The notes are also resistant to dirt and moisture and so remain in better condition for longer. These notes also have tactile features that allow the blind and partially sighted to use them.

Retailers can download posters to display in store to remind customers about the withdrawal of paper £20 and £50 notes here.

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