You could quite happily get a half decent telescope for that price, however, not one that can take pictures. Astrophotography is very expensive and not something I suggest looking at before you know you enjoy astronomy.
You have a few decision to make. Within your budget your best bet would be a dobsonian or reflector telescope. Your other choice is whether or not get a motorised mount. These choices depend on whether or not you want to just hit a number and see a nebula or whether you want to learn the sky and navigate it yourself.
Motorised EQ mounts (looks like a tripod) let you make 3 points of reference and then will track the sky to counter the earth's spin. From this, you can then use the controls to move to your desired coordinates. This is great for seeing a lot, quickly. However, they can be a bit of an arse to setup and you will get less telescope for your money. You will also be limited to a fairly small aperture reflector within your budget, probably around a 130p (the number denoting the size in mm of the mirror, referred to as the aperature). You could do this for under £300.
Your other option is a dobsonian. These use a simple floor mount which pivots and has angle control, however, this is all done by hand. You use a finder scope to locate your target then look through the eyepiece. It takes a little getting use to as you'll no doubt be surprised at how fast things move out of your field of view due to the earth's rotation, so you need to learn to make adjustments by hand as you go. It's not as complicated as it sounds and I'm sure you'd be well on the way to mastering it after a nights viewing. The bonus to a dobsonian is they're cheaper than reflectors due to the mounts being simpler, thus meaning for under £300 you can get a 200p.
I forgot to mention you can also get a non motorised EQ mount with a relfector, which will allow you to increase your aperature somewhat, probably to around 150p, but that'll take you to the limit of your budget. Controlling this also requires use of a finder scope and making adjustments by hand as you view.
I think that's everything, feel free to trust me if you want more depth on anything.