Policy News Journal - 2016-17

The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal

Individuals Around £1.3 billion worth of coins are stored in savings jars across the country, and the current £1 coin accounts for almost a third of these. If you have a round one pound coin sitting at home or in your wallet, you need to spend it or return it to your bank before 15 October 2017 when they lose their legal tender status.

The new pound coin will be the most secure of its kind in the world, to combat counterfeiters who have around 45 million counterfeit £1 coins currently in circulation. New security features include

Back to Contents

cipp.org.uk

Page 177

of 588

Made with FlippingBook - Online magazine maker