Statutory guidance

Traffic commissioners: finance

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


Statutory document no. 2: Finance

Annex B - Statutory declaration

Annex C - Finance agreement authorisation

Annex D - Licence renewal form


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 .

Published 9 April 2019
Last updated 9 January 2024 + show all updates
  1. Update to case law following publication of the Upper Tribunal 2023 Digest.

  2. 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

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

  4. Publication of consultation draft to incorporate changes bought about by The Goods Vehicles (Licensing of Operators) (Amendment) Regulations 2022 -

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

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

  7. 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)

  8. Adding hyperlink between HTML document and PDF.

  9. Reflecting legal updates.

  10. Updating financial standing levels for 2021.

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

  12. Updating financial standing levels.

  13. Document updated.

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

  15. First published.