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Higher cash reserves needed for ‘O’ licences

Feb 03, 2017

The levels of financial resources that vehicle operator licence applicants and operators need to show were increased and became operative on 1 January, 2017. 

The law requires the traffic commissioner to be satisfied that vehicle operators have enough financial resources to run their businesses and maintain their vehicles properly. The rates are calculated each year against the euro exchange rate as required under EU Regulation 1071/2009. 

There will be no change to the finance which must be available to support restricted licences.  

Standard operator licence 

Vehicles 

Previous rates 

Rate from 1 January 2017 

First vehicle 

£6,650 

£7,850 

Additional vehicles 

£3,700 

£4,350 


In recent years, the level of cash reserves for standard licence holders has reduced. The levels are increasing because of the recent fall in the value of the British pound against the euro. 

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