Statutory guidance

Traffic commissioners: finance

Sets out how the requirements for available finance might be met.

• From: Traffic Commissioners for Great Britain
• Published: 9 April 2019
• Last updated: 31 March 2025
  Show all updates

  1. 31 March 2025

     Statutory guidance has been clarified regarding subsidiary finance to ensure that funds are held by the entity that holds the operator's licence. Additionally, where company accounts are relied on they must provide sufficient detail for an assessment of availability.

  2. 9 January 2024

     Update to case law following publication of the Upper Tribunal 2023 Digest.

  3. 13 March 2023

     Updated with the requirement to make sure financial evidence is current and financial calculations are conducted consistently to ensure fairness to all applicants for an operator’s licence

  4. 1 September 2022

     adding an updated section on: - period of grace and potential grounds for revocation

  5. 11 April 2022

     Publication of consultation draft to incorporate changes bought about by The Goods Vehicles (Licensing of Operators) (Amendment) Regulations 2022 - https://www.gov.uk/government/consultations/senior-traffic-commissioners-statutory-documents-2022-revisions

  6. 18 January 2022

     Refer to UT decision on obligation to revoke a licence when a period of grace expires (para 26)

  7. 15 October 2021

     Clarification of Statutory Document status to assist document users and unaudited accounts referencing the Upper Tribunal decision in Thandi Coaches

  8. 23 July 2021

     Inclusion of a recent UT decision on Period of Grace procedure (document 2, para 25) Adding UT cases references for funds to be held within the entity that holds the licence (document 2, para 46) Amendment to Annex 3 Finance Agreement to include Invoice Discounting Agreement with worked example (document 2, Annex 3)

  9. 21 July 2021

     Adding hyperlink between HTML document and PDF.

  10. 29 March 2021

      Reflecting legal updates.

  11. 30 December 2020

      Updating financial standing levels for 2021.

  12. 16 November 2020

      Uploading HTML version of stat doc and ODT versions of some annexes for accessibility purposes.

  13. 6 November 2020

      Updating financial standing levels.

  14. 28 September 2020

      Document updated.

  15. 12 November 2019

      Updated to confirm no change in financial standing levels for 2020.

  16. 9 April 2019

      First published.

Documents

Statutory document no. 2: Finance

PDF, 473 KB, 36 pages

Statutory document 2: Finance

HTML

Annex B - Statutory declaration

ODT, 6.78 KB

This file is in an OpenDocument format

Annex C - Finance agreement authorisation

ODT, 8.78 KB

This file is in an OpenDocument format

Annex D - Licence renewal form

ODT, 8.43 KB

This file is in an OpenDocument format

Details

The Senior Traffic Commissioner for Great Britain issues guidance and directions under section 4C(1) of the Public Passenger Vehicles Act 1981 (as amended).

This guidance explains how the Senior Traffic Commissioner believes that traffic commissioners should interpret the law in relation to the requirements for financial standing.

The directions are addressed to the traffic commissioners in respect of the approach to be taken by staff acting on behalf of individual traffic commissioners. They dictate the operation of delegated functions in relation to the requirements for financial standing.

This document replaces the previous version dated January 2019 .