Get ready for new coin

BUSINESSES are being urged to get ready for the roll out of a new 12-sided £1 coin, which goes into circulation in March 2017.

The UK Treasury has launched a campaign to support businesses through a dedicated website providing resources to help prepare for the change.
Ahead of March 2017, businesses are being asked to check if they operate equipment that handles the £1 coin and contact their suppliers to find out if they need to make any adaptations; train staff on the new coin; and make arrangements with their bank or cash-in-transit provider to return coins in separate packaging while both circulate until Autumn 2017.
David Gauke, chief secretary of the Treasury, said the new coin will present  a “significant barrier” to counterfeiters, benefitting business.