More Money Needed for Financial Standing

The consequences of Brexit are going to be felt by Operators from the New Year.

Each year the requirements for financial standing are benchmarked against the Euro at the beginning of October.

With the pound falling against the Euro post Brexit this could result in a 15% increase in the amount of money an operator will need to be able to prove to establish financial standing.

These increased amounts will come into effect in the New Year.

It is crucial an operator can continually prove financial standing and a failure to do so can result in the licence being revoked.

Now is the time to check your finances and make provision for the increase.

If you have any Road Traffic issues please contact Jeremy Woodcraft who would be pleased to help.

Jeremy Woodcraft
for Cook & Co Solicitors
jeremy.woodcraft@cookco.co.uk