I Have been reading the adverts on this site and there is an advert from a
“Foreign Gentleman” requesting interest in a North Tyneside Hackney Carriage
Saloon Taxi Vehicle Licence they would like to purchase with the statement
“Plate Only” lowest prices to be quoted and I thought as I have a great
understanding of the law in relation to these matters I would comment with
this statement.
If you care to read a North Tyneside Hackney Carriage Licence it categorically
states “Licence for Hackney Carriage” reads that North Tyneside Council
hereby Licence the Hackney Carriage registration number (example only
purposes) AA11AAA belonging to Owner of the Vehicle should then be stated or
the Finance House (if on a Hire-Purchase Agreement or Loan Agreement)to ply
for hire within the said borough and carry (example only)4,5,6,7,8 persons.
It then goes on to say the name(s) and address(es) of every other person who
is a proprietor, or part-proprietor, of the Hackney Carriage in respect of
which this licence is granted, and this means the Registered Keeper on the
vehicle Log-Book who will be the person who has the Hire-Purchase or Loan
Agreement with the Finance provider and they only become the “Owner” when
the Finance Company has been repaid in full, meaning there is no outstanding
debt on the mentioned vehicle that is Licensed.
Now having read and fully understood that the plate belongs to North
Tyneside Council the only way the “Business” can be sold is if the “Owner”
of the “Vehicle” that is “Hereby Licensed” as a “Hackney Carriage” is being
sold as a package because to do so in any other form that is to say without
the vehicle would mean there is no Hacknay Carriage Licence for sale as
there is no licence in existance as without the vehicle there is “NO Hackney
Carriage Licence” to be sold in law.
I would further add to this statement that if you ask an Accountant for a
valuation of a Business,they will inform you that the valuation is set at
two and a half times the yearly turnover of the Business,so this would give
a guideance as to the value of remuneration required that a “Owner” would be
looking for in respect of a Hackney Carriage Saloon Taxi Vehicle with a
current licence for valuation purposes only. The “Owner of the Vehicle with
its current Licence” then can decide what remuneration they would be willing
to accept and not some Pretential Purchaser trying to set the remuneration
value of the business assets.
I hope this information has been well accepted by the “Owners of a Hackney
Carriage Vehicle with a current Licence” who were unsure of the remuneration
value of their business for future knowledge when the time comes to redeem
their business assets upon retirement in the future.
