Hello knowledgeable people, can anyone answer the following for me please?
When calculating financial reserves for 6 tractor units and 10 trailers, do the trailers also attract a reserve of 5,000 Euros each?
Ta very much
Pete
This may get a better response in the owner driver’s forum?
Express Pete:
Hello knowledgeable people, can anyone answer the following for me please?
When calculating financial reserves for 6 tractor units and 10 trailers, do the trailers also attract a reserve of 5,000 Euros each?
Ta very much
Pete
Trailers do not come under the Financial Standing, just tractor units or prime movers.
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goaty will be along any minute now to answer this 1 he has first hand of the rules its not as clear as you think 
if i remember rightly it is £8100 for the first unit and then the subsequent ones will be £4500 so the total will be £30,600
as far as i am aware it does not have to be cash, it can be in the form of a credit card or a readily available loan.
i cant remember the ins and outs until i look in my cpc notes tomorrow but thats about the basics for it
Hi,
As already said, you would need to show £30600 minimum in your account over the last three months, or an unused overdraft facility for this amount, if its a new business expect them to put a condition on granting the licence that you can again provide proof of financial standing in 3/6 months.
You can also provide accounts but turnover needs to be above £4.6 million.
Credit cards etc are also acceptable in your name for a sole trader business but not for a limited company.
Lrm
Knew you’d come up trumps - thanks ev eryone 
I don’t want to say to much on here just yet BUT…
Sole Traders: Cash, loan, Letter of Credit, Credit Card, accounts (as already stated) and or quickly liquifiable asset(s)
Partnership: As above.
Ltd Co. As above, minus the Letter of Credit.
A wholly owned truck is classed as an asset, so long as it’s not an intergral part of the business (i.e. not on the o/l, say a yard shunter or a mothballed spare)
I may be wrong but when I done my CPC last year it was 9000 for the 1st vehicle 5000 there after 
ryly1979:
I may be wrong but when I done my CPC last year it was 9000 for the 1st vehicle 5000 there after
I was wrong I was going on euros not sterling 