With effect from 1 January 2017, transport operators will have to prove that they have £7850 available for the first vehicle on a standard licence and will need £4350 for each additional vehicle.
EC Regulation 1071/2009 on access to the occupation of road transport operator lays down that the finance required for each authorised vehicle is based on the rate of exchange for the euro as set each October.
The rates for restricted licence operators remain the same as previous years (£3100 and £1700 for each additional vehicle).
The rates which have applied in 2016 are £6650 for the first and £3700 for each additional vehicle.
Operators who are planning to apply for more vehicles, upgrade their licences or are due to appear at a hearing, will be asked to provide evidence of financial standing at the new rates.