January Increases for Financial Standing Limits for Operator Licences

Next year will see the increase of transport financial standing limits for both standard national and international operating licences from 1st January 2014.

For standard national and international operating licences the increase for the first vehicle will be from £7200 to £7400 and for each additional authorised vehicle from £4000 to £4100.

Restricted licences are unaffected by the rises. At current, the limits for a restricted licence are £3100 for the first vehicle and £1700 for any additional vehicle.

The reason for increase is due to exchange rate fluctuations. James Firth, head of road freight and enforcement policy at the FTA (Freight Transport Association) stressed that the core EU regulation rates for the first vehicle (€9000) and any subsequent vehicle (€5000) has not changed.

James further mentioned that although the increases are small, they may be "unwelcome” for small operators and could add up to a "not insubstantial amount” for the largest ones, he said.

Source: Commercial Motor

Story By: Derek Broomfield

Web Link: www.novadata.co.uk

Date : 10-12-2013