2019 Financial Standing
The regulators have published the financial standing levels for 2019, and as predicted, there is an increase.
Standard national/international licence holders will now have to show figures of £8000 for the first vehicle and £4450 per vehicle thereafter.
This may seem a benign increase compared to some previous years, however, a key feature now is that operators will have to demonstrate financial standing for their existing margin (and any proposed increase) when making applications for variations to their licence.
The rates for restricted licence holder will be unchanged in the new year, remaining at £3100 for the first vehicle and £1700 per additional vehicle.
For further advice on the matter, contact us at email@example.com