💷 What Is ‘Financial Standing’?

Financial standing is a legal requirement under the Goods Vehicles (Licensing of Operators) Act 1995. It ensures operators have enough money to run vehicles safely and legally.

📊 How Much Do You Need to Show?

As of 2025, the required financial levels are:

• Standard National/International Licence: £8,000 for the first vehicle and £4,500 for each additional vehicle.
• Restricted Licence: £3,100 for the first vehicle and £1,700 for each additional vehicle.

💼 What Evidence Can You Provide?

You may be asked to provide:

• Bank statements (typically 3 months)

• Business accounts

• Overdraft/loan agreements

• Finance agreements

Having an accountant or consultant help present these clearly can speed up approvals.

❌ What Happens If You Don’t Meet It?

Failure to demonstrate financial standing can lead to:

• Licence applications being refused

• Licence revocation or curtailment

• Public Inquiry with the Traffic Commissioner

✅ Need Help?

Get in touch if you’re applying, varying, or renewing your Licence.