Click button to open menu

Deadline to spend old £10 notes rapidly approaching, Bank of England warns

23 Feb 2018

The Bank of England (BoE) has warned that the deadline for spending old £10 notes is rapidly approaching.

Paper £10 notes, which feature a portrait of naturalist Charles Darwin, will be demonetised on 1 March 2018. After this time, the new polymer £10 note will be the only note with legal tender status.

Data from the BoE has revealed that, despite 73% of £10 notes currently in circulation being the new polymer type, there are still around 211 million old paper £10 notes left in circulation in the UK.

The BoE is urging consumers to spend their old £10 notes before the 1 March deadline. Individuals will also be able to exchange them for new polymer ones after this time.

The new polymer £10 note came into circulation on 14 September 2017, and depicts author Jane Austen on the back. ‘Tactile’ features for the blind and partially-sighted are also included on the new note.

Plans are in place to introduce a new polymer £20 note in 2020. There are no plans currently in place to replace the paper £50 note.

More information on the new £10 note can be found here.

Registered to carry out work in England and Wales and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales.

Details about our audit registration can be viewed at www.auditregister.org.uk for the UK under reference number C006856925

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2024 Greenaway Chartered Accountants. All rights reserved.

Greenaway Chartered Accountants, 150 High Street, Sevenoaks, Kent TN13 1XE

We use cookies on this website, you can find more information about cookies here.