I’m going to apply for an O Licence as a limited company. I have arranged an appointment to open a business bank account, but this won’t be for around three weeks.
I have spoken to VOSA and they say that I will need to provide an opening statement in my company name (although it does not need to show any more than a token amount, not the £7,700 and £4,100 required for financial standing- I will need to show this within six months of starting).
Is there any point in submitting the application now, with this bank statement to follow, or will it take the same length of time as if I wait and submit the whole lot at once?
No submit it now. They will process it and just ask for 3 months statements. They may ask for them after another six months aswell to make sure you havnt just borrowed the money.
Having been through this several times, and going through another exercise for another Operating Centre now, best get in the paperwork as and when you have it. I wouldn’t wait having it all together before you send in the application. As stated its around 3 months at the moment but they seem to be happy with drip-fed information once the application has been lodged.
OK thanks, I will be getting the operating centre sorted out tomorrow and will submit the documentation then, newspaper advert should appear next Thursday so I’ll get that off to them then, that should just leave the business bank statement when I open the account.
Harry Monk:
OK thanks, I will be getting the operating centre sorted out tomorrow and will submit the documentation then, newspaper advert should appear next Thursday so I’ll get that off to them then, that should just leave the business bank statement when I open the account.
don’t forget, the letter from the land owner that you want for your operating centre must state a date as to when you can start parking your vehicle(s) there, they cannot just put ‘as and when you get a vehicle’ as the Traffic Office will kick it back to you
obviously, the date that the land owner specifies should be BEFORE when you want your O Licence to start from
Harry Monk:
OK thanks, I will be getting the operating centre sorted out tomorrow and will submit the documentation then, newspaper advert should appear next Thursday so I’ll get that off to them then, that should just leave the business bank statement when I open the account.
don’t forget, the letter from the land owner that you want for your operating centre must state a date as to when you can start parking your vehicle(s) there, they cannot just put ‘as and when you get a vehicle’ as the Traffic Office will kick it back to you
obviously, the date that the land owner specifies should be BEFORE when you want your O Licence to start from
Good point, I have recently had a bit of going around the houses as although my new landlord stated I have parking for three units and three trailers the letter did not state it was infact 6 parking spaces -
Harry did you used to work for the guy that ran Fleetwood? If so PM me.
harry the reason for the token amount is because its the actual business account they want to see, its just to further prove you are a bona fide business, you may well be asked to provide 3 months statements later to prove you have the required funds.
