The Office of the Traffic Commissioner has confirmed the levels against which applications and continuations will be assessed from the start of 2020 with no change to the rates of finance, which must be available to support a licence or application.
Therefore, operators will continue to be required to demonstrate rates of finance as follows:
• Standard national and international licence applicants will be required to demonstrate £8,000 for the first vehicle and £4,450 for each additional vehicle they request to be authorised.
• To support a restricted licence or application, operators will be required to show £3,100 for the first vehicle and £1,700 for each additional authorised vehicle.
Operators making variation applications will be required to demonstrate financial standing for their existing fleet and any additional authorisation against these levels.
Any applicant or licence holder appearing at public inquiry before a traffic commissioner after 1 January 2020, where evidence of financial standing is requested, will be required to continue to satisfy these levels.
The Senior Traffic Commissioner’s statutory guidance document on finance will reflect these rates.