To ensure that the SIA does not hold unnecessary reserves, it will be making a further reduction to the fee it charges for individual licence applications.
From 1 April 2020 individual licences for all sectors will be reduced from £210 to £190.
The reduction applies to both new applicants and those renewing existing licences.
Licence holders applying for an additional licence after this date will pay 50% of the new reduced fee.
The SIA is committed to ensuring value for money. This further reduction will be applied over a number of years, during which time the SIA will continue to work hard to improve its efficiency. This will enable it to hold the licence application fee at the lowest level possible.
SIA Chair Elizabeth France said:
“Our aim is to be as efficient as possible and provide the best value for money for those we regulate. I am pleased to announce this reduction, which brings the fee down to the level it was at 16 years ago when licensing was first introduced.”