To be eligible for an operator's licence an operator must have access to a prescribed level of funds per vehicle that they have authorised on their licence .  This is to ensure that there are sufficient funds to keep and maintain the vehicles that are authorised for use.  The relevant amount is reviewed each year by reference to the value of the Euro.

The Office of the Traffic Commissioner has today (7 December 2017) confirmed that operator licence applications and continuations will now be processed against the 2018 financial levels.

Applicants and existing operators will be asked to produce evidence meeting the revised criteria in preparation for the 1 January 2018 deadline, when the new financial standing levels come into force.

Standard national and international licence applicants will be required to demonstrate £7950 for the first vehicle which is an increase of £100 and £4400 for each additional vehicle they request to be authorised which is an increase of £50.

Operators making variation applications will be required to demonstrate financial standing for their existing fleet and any additional authorisation against the new levels.

Any applicant or licence holder appearing at public inquiry before a traffic commissioner after 1 January 2018, where additional evidence of financial standing is requested, will be required to satisfy the new levels.

There is no change to the rates of finance which must be available to support a restricted licence or application: £3100 for the first vehicle and £1700 for each additional vehicle.

If you have any queries regarding financial standing or any other aspect of operator licensing the please contact us.

Rates from 1st January 2018:

 Licence Type    Goods Vehicles  Public Service Vehicles
 Standard  First Vehicle  £7950  £7950
 

 Each Additional

Vehicle

 £4,400  £4,400
 Restricted  First Vehicle  £3,100 £3,100
   Each Additional

Vehicle

 £1,700 £1,700

About the author

Callum is the head of the Motor and Transport team.  He is a solicitor with over 15 years of experience dealing with road traffic and transport matters.