Yes, this is being discussed on other animal and pet forums. I'm glad that you mentioned it.
There is some tallow in the new £5 notes. Tallow "is a rendered form of beef or mutton fat, processed from suet." according to Wikipedia. It is therefore unacceptable to vegetarians as well as vegans. It is also unacceptable to Sikhs (who are generally vegetarians), Jains (who will not kill or harm any living creature) and Hindus (for whom the cow is sacred).
I think the company which was asked to produce the notes for the bank of England is already looking into an alternative method avoiding tallow. It should have thought of the issue before accepting the contract.
There is a bit more detail here: http://www.express.co.uk/news/uk/738178/What-is-tallow-why-there-animal-fat-new-5-note-vegetarian
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