The basic unit of British currency ('sterling') is the pound (£). One pound is made up of 100 pence (p). The most common paper bank notes are for £20*, £10 and £5; you may also see £50 notes from time to time (some places do not accept £50 notes). Coins are for £2, £1, 50p, 20p, 10p, 5p, 2p and 1p.
(*Note: there are two designs of £20 banknotes.)