Good news for new or expanding operators

The financial standing levels are set by the EU regulations in Euros and therefore each member state that does not use the Euro adjusts their rates every year according to currency fluctuations. For standard national and international operators the current figures are set at €9,000 for the first vehicle and €5,000 for each subsequent vehicle.

 

What’s changed

As of the 1st of January 2015 the rates have reduced making it easier for new operators and those looking to expand their fleet. The new reduced levels will require an operator to provide evidence of the following financial standing.

• £7,000 (previously £7,400) for the first vehicle
• £3,900 (previously £4,100) for each subsequent vehicle

There has however been no change to the financial standing for a restricted operator and these remain the same as the previous year.

• £3100 for the first vehicle
• £1,700 for each subsequent vehicle

This update has also been changed in the traffic commissioners guidance document on finance which you can download by clicking here.