SIA announced that the cost of applying for an individual licence for any sector will be reduced from £190 to £184 as of 6 April 2023. Michelle Russell, SIA’s Chief Executive Officer, said that this “latest reduction brings the licence fee down to less than it was 19 years ago when it was first introduced.”
Reduction applies to both new applicants and those renewing existing licences. Licence holders applying for an additional licence after 6 April 2023 will pay 50% of the new reduced fee.
The £6 reduction is on top of the existing £20 reduction funded from the previous historical surpluses under a rebate scheme approved by HM Treasury, which will continue until 2026. It also represents a three per cent efficiency savings in SIA’s operational costs.
“We recognize that £6 may feel like a small amount to many, but in the context of the cost-of-living challenges, for some, every pound counts,” said Michelle Russell, SIA’s CEO.
SIA informs applicants that the individual licence fee reduction applies to applications received from 6 April; if an application has not yet reached payment stage on 6 April 2023 it can be cancelled, and the application can be resubmitted on or after 6 April to benefit from the reduced cost. If payment has already been processed for an application, it cannot be refunded as significant work to process it will have already been completed.
