In the wake of currency movements, the amount of available reserves that operators must show to meet O-Licencing financial standing rules go up from 1 January.
The new rates mean that a typical 10-vehicle operator (the GB average) will need to show £47,500 – an extra £550.
National and international licence holders will be required to demonstrate £7,950 (previously £7,850) for the first vehicle and £4,400 (previously £4,350) for each additional vehicle. The increase is 1.27% and 1.15% respectively. The rates are enshrined in law, based on the pound-euro exchange rate in October each year.
There is no change to the rates for a restricted licence: £3,100 for the first vehicle and £1,700 for each additional vehicle.
