Best restaurants in London

We don't use U$$ in England - we use ££ (GBP).
U$50 equates to approximately £32.50, which is around the bottom end of good mid-priced restaurants.

Average tip is about 12%; sometimes this is added to the bill, as 'a service charge' and sometimes not.
When checking a menu you need to take account of the following: -
A 'cover charge' may also be applied - this includes,e.g. bread.
And vegetables may be extras and listed separately.
VAT (= sales tax) may also be added separately. This, plus the service charge, should be indicated, usually at the bottom of the menu.
All ways of upping what looks initially like a good price.

All restaurants are required by law to post their menu outside the restaurant.

Useful info, I hope - but I can't recommend any restaurants of the sort you're after, as I rarely eat out and when I do it's at Middle Eastern/African etc. places.

You are at the lower end of the spectrum with your budget and not within a bull's roar of the best 'English cuisine' restaurants in London.

On that budget you could try Brick Lane, Cafe Naz is one that I've enjoy - okay it is Indian cuisine but that is the most British (in some ways) of British foods.

You could try a Stockpot restaurant.

If you can somehow stretch your budget, check out Simpsons on the Strand.

Service charge is optional as rule but for large groups, tipping is very optional and I know a lot of British people who don't tip, a cover charge is rare in my experience, I've never seen VAT added separately but the value of it as part of the total meal may be indicated. I work on the premise that what I see on the menu is what I will be charged and have never (or rarely) been wrong.

You could try Jamie Oliver's 'Fifteen'. Here's the menu and prices:

http://www.fifteen.net/

$50 per person is a perfectly reasonable amount to spend on restaurants in London. Roast, near buzzing Borough Market, offers excellent quality British cuisine for around that budget.

For lower cost British food then pubs are the best place to head for (the chains Nicholsons and All Bar One offer decent fare).

Finally, Peyton & Byrne restaurants are amongst my favourites in London. Try their The National Dining Rooms restaurant for top quality modern British cuisine (centrally located on Trafalgar Square)

Pub food is very variable, in both quality and price. But I found Wetherspoons pubs down in Cornwall were quite ok.

Borough Market is great - but do they have sit-down restaurants?
Stockpot food is definitely mediocre.

Yes, Borough Market does have sit-down restaurants (including Roast). However, they can get busy and so booking in advance is recommended.

I was quite amused with the first post. My boyfriend and I have traveled extensively through Europe and completely understand the currency and conversions. We are not concerned with tax and tip, that was just a general range on what we might spend on average. We enjoy pub food to Michelin starred restaurants and were merely looking for highlights from others. We could definitely spend more on some nights and enjoy simple pub food on other nights.

Thank you for your feedback and if you have any favorites for fish and chips let me know. Cheers!

Although not actually in London I would recommend The Hand & Flowers in Marlow. This restaurant/pub has two michelin stars and has a fixed price menu starting at £15 as well as a lot of other choices, booking is essential. Check out their web site.

Marlow is a delightful small town on the banks of the river Thames just outside London and is served by a regular train service from Paddington

For fish and chips try the Golden Union in Soho. My personal fave is Kennedys near Streatham Hill station but you won't be out that way.