{"id":158,"date":"2017-04-06T00:00:00","date_gmt":"2017-04-05T23:00:00","guid":{"rendered":"http:\/\/duffyregan.wpengine.com\/index.php\/2017\/04\/06\/will-the-new-one-pound-coin-affect-your-business\/"},"modified":"2017-04-06T00:00:00","modified_gmt":"2017-04-05T23:00:00","slug":"will-the-new-one-pound-coin-affect-your-business","status":"publish","type":"post","link":"http:\/\/duffyregan.co.uk\/index.php\/2017\/04\/06\/will-the-new-one-pound-coin-affect-your-business\/","title":{"rendered":"Will the new one pound  coin affect your business"},"content":{"rendered":"<p>The new, 12 sided coin became legal tender from 27 March 2017. Businesses that deal in cash transactions, or use equipment that accepts the &pound;1 coin should take note of the following:<\/p>\n<p>The 28 March 2017 to 15 October 2017 is nominated as the co-circulation period for the new &pound;1 coin. What this means is:<\/p>\n<ul>\n<li>You can accept both old and new coins during this period.<\/li>\n<li>When you take coins to the bank you will need to separate into old and new varieties.<\/li>\n<li>Equipment vendors should reconfigure machines to accept both coin types.<\/li>\n<\/ul>\n<p>In any event you will need to advise customers which coin or coins can be used.<\/p>\n<p>From the 16 October 2017, the old coins will no longer be legal tender. Accordingly:<\/p>\n<ul>\n<li>all your coin handling equipment should be able to accept the new &pound;1 coin.<\/li>\n<\/ul>\n<ul>\n<li>you are under no obligation to accept the round &pound;1 coin from your customers and you should not distribute the round &pound;1 coin.<\/li>\n<\/ul>\n<ul>\n<li>the round &pound;1 coin can continue to be deposited into a customer&rsquo;s account at most High Street banks and the Post Office. Best to check with your bank for more details, including deposit limits.<\/li>\n<\/ul>\n<p>Time to empty your piggy banks. According to the Royal Mint more than 1.5 billion new coins will be produced, and presumably, 1.5 billion old coins removed from circulation.<\/p>\n<p>&nbsp;<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>The new, 12 sided coin became legal tender from 27 March 2017. Businesses that deal in cash transactions, or use equipment that accepts the &pound;1 coin should take note of the following: The 28 March 2017 to 15 October 2017 is nominated as the co-circulation period for the new &pound;1 coin. What this means is: [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-158","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"_links":{"self":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=158"}],"version-history":[{"count":0,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/158\/revisions"}],"wp:attachment":[{"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=158"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/duffyregan.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}