British money is based on the decimal system – there are one hundred pence to each pound. Coins have the values of 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2. Notes have the values of £5, £10, £20 and £50. Scottish £1 notes are still in circulation in Scotland. The Channel Islands and the Isle of Man have some different coins and notes from the mainland but the monetary system is the same.