United Kingdom Money
UK currency is the pound sterling (£), divided into 100 pence (p). Coins come in denominations of 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2. Notes are in denominations of £5, £10, £20 and £50.
Credit cards are widely accepted in hotels, shops and restaurants – MasterCard and Visa are almost universal . ATMs, which are often known in the UK as Cashpoints, cash machines or informally as 'holes in the wall', are very widely available and usually dispense £10, £20 and sometimes £5 notes. Traveller's cheques can be exchanged at most banks.
A service charge (tip) of 12. 5% to 15% may be added to your bill, so check your bill carefully. If service isn't included, you can leave a tip of 12%-15%. People generally do not tip in pubs in London. Bartenders sometimes hand back change on a tipping tray, although it's still up to you to choose to leave a tip. Most hotel bills include a service charge, usually 10-12%. For room cleaning staff, you can leave an amount of your choosing on departure. It is customary to simply round up to the nearest pound.
VAT (Value Added Tax - a mandatory tax on almost all goods and services in the UK) is 20%. After you purchase in any Tax-Free shop, you can claim the VAT back when you leave European Union (not just the UK). Minimum purchase amounts at a store before claiming back VAT would normally start at £30.