Financial Evidence for an Operator Licence: What You Need to Know
When applying for an Operator Licence, one of the key requirements set by the Office of the Traffic Commissioner is proving that you have sufficient financial resources to run your vehicles responsibly. This financial evidence shows that you can maintain your fleet, keep vehicles roadworthy, and operate safely and legally.
If you plan to expand your fleet in the future, you’ll need to show proof of funds not only for the vehicles you’ll use immediately but also for those you intend to add later. For more detail on the process, see our guide to the Operator Licence application process.
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How Much Money Do You Need for an O Licence?
The amount of financial evidence required depends on the type of Operator Licence you are applying for and the number of vehicles you intend to operate. If you’re unsure which licence is right for you, take a look at our comparison of Standard vs Restricted Operator Licence.
Restricted Licence
Heavy Goods or Passenger Service Vehicles
First vehicle: £3,100
Each additional vehicle: £1,700
Standard National Licence
Heavy Goods or Passenger Service Vehicles
First vehicle: £8,000
Each additional vehicle: £4,500
Standard International Licence
Heavy Goods or Passenger Service Vehicles
First vehicle: £8,000
Each additional vehicle: £4,500
Light Goods Vehicles
First vehicle: £1,600
Each additional vehicle: £800
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Acceptable Forms of Financial Evidence
The financial documents you submit must be in the correct name — whether that’s the applicant, licence holder, partnership members, or company. For limited companies, the details must also match those registered at Companies House, or your application could be rejected.
You can provide at least one of the following forms of evidence:
Bank or building society statements (covering the last 28 days)
Credit card account statements
An opening balance
A formal overdraft or credit facility agreement from your bank
Invoice finance agreements
Audited accounts, certified by a qualified professional
The Office of the Traffic Commissioner may contact you if they need further clarification on the evidence you provide.
For more guidance on compliance, you may also want to read our article on maintaining an Operator Licence.
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Final Thoughts
Providing accurate and up-to-date financial evidence is essential when applying for an Operator Licence. Without it, your application could be delayed or even rejected. Preparing the correct documents in advance ensures a smoother process and helps demonstrate that your business has the financial stability to operate legally and responsibly.
If you’re getting ready to apply, check out our step-by-step guide on how to apply for an Operator Licence to make sure you’ve covered everything.
