As first announced in 2014, the new 12-sided £1 coin will be finally be here on the 28th of March.
For the first time in over 30 years, the pound coin will be changed after fears the existing coin was easily illegally copied, meaning a lot of worthless coins have been in circulation. The Royal Mint have declared the new coin the most secure in the world.
You will still be able to use the round £1 coin until 15th October, after that date they will become worthless.
As a result, prior to 28th March, you will need to upgrade your coin handling equipment, such as vending machines, supermarket trolleys, car park ticket machines and any other machine that accepts £1 coins. The Royal Mint has been working proactively with coin handling equipment manufacturers to ensure that upgrades and replacements are available. You will also need to train any staff on the new features of the coin.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.