ABC News said the case has been referred for prosecution. I can’t see that happening but who knows. He was at-fault in the accident.
Trial by media and the mob isn't the legal processes in the UK, fortunately. There are a number of cases where the evidence presented in the media has then been thrown out of court as insufficient or only telling half the story e.g. the Ben Stokes affray charges, largely based on a short clip filmed by a member of the public but when the entirety of the story and other footage was shown in court he was found not guilty ... but the baying mob still refuse to accept that verdict as they only base their decision on the short clip sold to the media.
We do NOT know who was at fault at this point in time.
There is a possibility of 'no fault' in accidents you realise - that it was an 'accident'.
The passenger says the were 150 metres away when they first saw Philip. Unless they were speeding 150 metres was plenty of time to stop. So either she was lying, misjudged the distance or speed the car was going.
We know there was an accident in which a KIA and a reinforced landrover came into contact with sufficient force that the reinforced car was overturned.
We know that there were a couple of relatively minor injuries - no one was kept in hospital overnight. We know that the older driver has given up his license but no reason has been given - i.e. he wasn't ordered to do so as that would need a court case or at least some legal procedure which hasn't happened.
We know that the police have passed the file to the CPS - that doesn't mean anything as most police files end up with the CPS - who will decide IF there are any charges that are to be laid. The CPS will determine if charges should be laid and they will only do that IF they believe there is sufficient evidence of a crime being committed and a conviction being obtainable. With traffic incidents, most do not end up with charges being laid, as there isn't an actual 'crime'. They may recommend a fine as a traffic offence but not charges as no crime. The CPS don't prosecute every police report that comes before them - they decide IF they think a prosecution is viable.
The fact that Philip has voluntarily surrendered his license will also be taken into account by the CPS who may close the file at that point - as they do with many elderly people involved in car accidents.