Financial resources test – consultation launched12 June 2018

The traffic commissioners for Great Britain have launched a consultation on whether the financial resources test for restricted operator licence holders needs to be changed.

While the levels are set by EU legislation for standard licence holders, the traffic commissioners for Great Britain set the level for restricted operators – those who only carry their own goods or run a maximum of two passenger transport vehicles.

The level for restricted operators has not changed since 2004, and is £3,100 for the first vehicle and £1,700 for each additional vehicle.

The financial resources are checked at the time of licence application, but can also be checked at any stage thereafter.

Richard Turfitt, senior traffic commissioner, said: “The cost of maintaining vehicles properly has increased since we last reviewed the rates for restricted operators.

“Although we’ve taken a conscious decision not place any additional burdens on restricted operators, especially following the period of economic downturn in 2008, it’s right to review the financial security test now and get the thoughts of industry and stakeholders on where the levels should be set.”

The consultation runs until 31 August 2018. Click the link below for more information.

Author
Laura Cork

Related Websites
https://is.gd/donamo

This material is protected by MA Business copyright
See Terms and Conditions.
One-off usage is permitted but bulk copying is not.
For multiple copies contact the sales team.

The 2018 IRTE Conference is proudly sponsored by: