I have been offered a small haulage business which consists
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of an 0 licence for two vehicles and one 1966 16-ton-gross plated lorry. The asking price is £1000 but I have no idea what it is worth.
The company is not limited at the moment but if it were, would it be worth any more? I would be very grateful for any advice you can give.
AWe are in no position to advise you as to the worth of the vehicle or the business without knowing more detail.
However, we would advise you to be careful about the transfer of the licence should you offer to buy the business. An operator's licence as such is not transferable and therefore has no value in a transaction of this nature. Also, before entering into any agreement you should first consult the Licensing Authority who issued the licence to see if he is likely to grant you a licence in place of the other one which will have to be surrendered. Before granting you a licence the LA will require assurance that you are a fit and proper person to hold a licence, that you have the facilities and finance to maintain the vehicles in good order and that you will ensure that they are not overloaded and that the drivers' hours and records regulations are observed.
If the existing business is formed into a limited company the LA will have to be informed of the changes in the nature and/or ownership of the business, and will still want the same assurances as mentioned above.