You can choose to get either of 2 radio licences.
LROCP (full Marine Radio Licence)
A LROCP Marine Radio Licence includes the VHF licence and the HF/MF licence and is a requirement for a Master <24metres – it costs exactly the same as ‘just’ the VHF licence, it is a bit more to study, and the exam has more questions than the VHF
SROCP (just the VHF)
A VHF licence is a legal requirement if you have a VHF radio on your boat. It is required by anyone wishing to obtain their Coxswain Grade 1 Commercial Certificate of Competency.