How can I extend my O license?

How can I extend my O license?

How can I extend my O license?

Your operator's license (O license) is a key component of your ability to continue living and working as a trucker, van driver, or another self-employed commercial vehicle owner. Understanding what the different licensing types are, as well as how to renew them, is key. So what do you need to know?

The different types of license

There are three main types of operator's licence you should be aware of.

- Standard national license - This permits you to carry both your goods and the goods of your client nationally. This allows you to carry loaded trailers to or from ports inside the UK as a result of an international journey, providing your vehicle doesn't leave the country.

- Standard international license - This license allows you to carry your own goods both nationally and internationally. Following your standard international license approval, you can request a UK License for the Community to allow you to take trips between EU member countries, transit through EU member countries, and cabotage (a journey taken entirely within one single EU country).

- Restricted license - This will allow you to carry your own goods as a part of your commercial and business operation, but it won't allow you to carry anyone else's goods. This is an important consideration relating to your intended usage.

You can make an application for an operator license directly through the Gov.uk website, or by post. Your decision will usually be made within 7 weeks if you applied online, or 9 weeks if you made your application by post.

How do you keep your license current?

Your license is valid for as long as you pay the continuation fee of £401 every five years. Similarly, you must continue to abide by the terms of your license and ensure that you are only operating within its constraints regarding what you can and can't carry.

You can make changes to your operator's license after it has been granted via the Gov.uk online portal. This will allow you to make any changes you need regarding your license, upgrade the vehicle limit of your license, change the type of license, or even surrender your license if you no longer require it. Through your online portal, you will also be able to see any outstanding fees that need to be paid.

Invoicing finance and key assistance

Invoice financing allows you to take the financial sting out of waiting for invoices to be paid, by allowing you to get the money you're owed now through finance and then pay it back when the actual invoice is paid. That means if you're waiting for an invoice to be cleared but you need the money now, you can take out finance against the value of that invoice and pay it back when the client settles the invoice.

At Truck2Finance, we're specialists in creating bespoke finance packages for our clients throughout the trucking and commercial driving world. For more information about getting the invoice financing solutions required to keep your cash flow smooth, contact our friendly team today.