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24 Oct 2022

New research has indicated that UK shoppers could spend £4.4bn less on essentials ahead of Christmas – a 22% drop as the rising cost of living impacts on disposable income.

13 Oct 2022

National media has reported that most Britons say that the cost-of-living crisis is forcing them to shun local shops in favour of big brands to get the cheapest prices.

4 Oct 2022

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

15 Sep 2022

BIES Retail has created a visual toolkit for all organisations, and the public sector during this time of mourning to show the country speaking with one voice of unity.

2 Sep 2022

ActSmart, ACT, Booksellers Association, Craft Bakers Association, British Sandwich & Food to Go Association and the Café Life Association from the Independent Retailers’...

30 Aug 2022

Nearly 14% of small UK businesses expect to close in the next twelve months, according to a new report published by the Federation of Small Businesses.

23 Jun 2022

With this summer and for Independents Day, especially after the last few years, it is crucial that businesses can make the most of the increased footfall of physical shoppers.

23 May 2022

The Greeting Card Association (GCA) have created a Father's Day 2022 toolkit, with the aim of helping retailers promote this event in their stores and online.

6 Apr 2022

Businesses are required to have signed up to Making Tax Digital ready for their first VAT return starting on or after 1 April 2022. However, they may not be required to make their first...

24 Mar 2022

This briefing outlines the most relevant announcements for the cycling sector gathered by the ACT through our involvement in the

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People with a UK bank account will still be able to deposit withdrawn notes into their account.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