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Current, high-quality and secure bank notes £20 - for any amount. Fifty Pound Note. After the First World War, the value of the franc began to fall relative to sterling. However, they are not legal tender in Scotland and Northern Ireland. £50 - for any amount. The plastic version, which features … Your bank won’t accept damaged, bent or chipped coins and nor will the Royal Mint. 50p - for any amount not exceeding £10. © 2020 BBC. While the paper £5 and £10 notes are no longer legal tender, they will always be accepted by the Bank of England. The Bank of England hasn’t yet set a date to withdraw legal tender status from paper £20 notes, as it did with the paper £5 and £10 notes. Coins: Coins are legal tender throughout the United Kingdom for the following amount: £100 - for any amount. According to their website, the material allows for ‘enhanced security features, such as the see-through windows and holograms.’. A 3D image of the coronation crown appears above the see-through window. The Bank of England banknotes. The spokeswoman added: "All genuine Bank of England banknotes that have been withdrawn from circulation retain their face value for all time and can still be exchanged over the counter. The Scottish banks issue notes in denominations of £5, £10, £20, £50 and £100.Only the Royal Bank of Scotland continues to issue a small volume of £1 notes. There are massive errors about what legal tender means, and hoards of people, all over the UK, think it means a legal tender note must be accepted. The £1 coin ceased to be legal tender on 15 October 2017, to coincide with the withdrawal of the circular £1 coin in the UK. Holby City review with spoilers: Sacha’s daughter Beka dies as Jodie poisons her? By Alex Nelson. The UK introduced a brand new plastic £20 note back in February which followed in the footsteps of upgrades made to the £5 and £10 notes. Last time the £20 was replaced - in 2007 when the Edward Elgar note was withdrawn - it took three years before it stopped being legal tender. The Bank will give six months’ notice before it withdraws the old notes. Elgar £20 note no longer legal tender . What’s classed as legal tender varies throughout the UK. The Currency and Bank Notes Act 1954 defined Bank of England notes of less than £5 in value as legal tender in Scotland. Even after legal tender status is withdrawn, many banks will continue to accept deposits of the old £20 note. A Bank of England spokeswoman told BBC Wales the number of £5 paper notes returned - 227 million - was lower than expected, while the number of £10 notes (708 million) was in line with expectations. The website reads: ‘On 20 February 2020 we issued a new polymer £20 note. That’s because the Bank of England has said that old £20 are still being considered legal tender. Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. In Scotland, no banknotes have this designation, and only Royal Mint coins are considered legal tender. "The impact of Covid-19 on spending" has affected the return rates says the Bank of England. Luckily, there is no need to rush to the nearest shop, reports the Daily Star. This caused Guernsey to adopt a pound equal to the pound sterling in 1921. 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