Taken from a UK tyre web site showing a Taxi tyre is LEGAL up to 99MPH 
TYRE SPEED SYMBOLS & CATEGORIES
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Most car and van tyres used in the UK have both a load and speed rating after the tyre size, e.g. 195/65R15 is usually followed by 91V. This means the tyres can carry their rated load upto a maximum nonstop speed of 240 kph. When replacing tyres it is important to ensure the new tyres, even if a different size, have the same or a higher speed rating. However, in the UK, with a national speed limit of 70 mph, it is quite safe and not illegal to fit a tyre with a lower speed rating, provided you do not exceed this reduced rating. The table below shows the maximum speeds applicable to each speed letter.
Max Speed
(sustained)
Kilometres/hr Speed Rating Max Speed
(sustained)
Miles/hr
N P Q R S T U H V W Y Z
300 Kph 190 Mph
290 Kph
280 Kph
270 Kph 170 Mph
260 Kph
250 Kph
240 Kph 150 Mph
230 Kph
220 Kph
210 Kph 130 Mph
200 Kph 125 Mph
190 Kph 119 Mph
180 Kph 113 Mph
170 Kph 106 Mph
160 Kph 100 Mph
150 Kph 94 Mph
140 Kph 88 Mph
130 Kph 81 Mph
120 Kph 75 Mph
Max Speed
(sustained)
Kilometres/hr N P Q R S T U H V W Y Z Max Speed
(sustained)
Miles/hr
Speed Rating
Marking Charactistics
Speed Symbol "N" For vehicles with a speed capability not exceeding 140 Km/h (88 Mph)
Speed Symbol "P" For vehicles with a speed capability not exceeding 150 Km/h (94 Mph)
Speed Symbol "Q" For vehicles with a speed capability not exceeding 160 Km/h (100 Mph)
Speed Symbol "R" For vehicles with a speed capability not exceeding 170 Km/h (106 Mph)
Speed Symbol "S" For vehicles with a speed capability not exceeding 180 Km/h (113 Mph)
Speed Symbol "T" For vehicles with a speed capability not exceeding 190 Km/h (119 Mph)
Speed Symbol "U" For vehicles with a speed capability not exceeding 200 Km/h (125 Mph)
Speed Symbol "H" For vehicles with a speed capability not exceeding 210 Km/h (130 Mph)
Speed Symbol "V" For vehicles with a speed capability not exceeding 240 Km/h (e.g. 225/55 R 15 91V)
Speed Symbol "W" For vehicles having speed capability not exceeding 270 Km/h (e.g. 225/60 R 15 96W)
Speed Symbol "Y" For vehicles having speed capability not exceeding 300 Km/h (e.g. 275/40 R 18 94Y)
Speed Category "VR" For vehicles having speed capability over 210 Km/h (e.g. 195/50 VR 15)
Speed Category "ZR" For vehicles with a speed capability over 240 Km/h (e.g. 205/40 ZR 17)
ZR+ Speed Symbol "W" Tyres marked with both designations for vehicles with speed capability over 240 Km/h but not exceeding 270 Km/h
ZR+ Speed Symbol "Y" Tyres marked with both designations for vehicles with speed capability over 240 Km/h but not exceeding 300 Km/h
Other Technical links:
Tyre Load Tables  Tyre Size Calculator  Vehicle Wheel Fitment
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