ATOL Reporting Accountant's Scheme

For many years now the Civil Aviation Authority (CAA) have required that ATOL licence holders submit returns certified by an accountant.

The CAA have now introduced the ATOL Reporting Accountants' Scheme for all ATOL licence holders which came into effect on 01 April 2016.   To obtain more information about the new ATOL Reporting Accountants Scheme please follow the link below:  https://www.caa.co.uk/ATOL-protection/Trade/Maintain-and-renew-your-ATOL/ATOL-reporting-accountants-scheme/

This scheme has been developed to improve the standard of ATOL reporting and to provide assurance that any financial information submitted to them is accurate. It has been set up by the CAA in alliance with the professional accountancy bodies to ensure better ATOL Reporting. 

By their very nature the new rules will ensure that the accountants making the report are sufficiently knowledgeable about the travel industry as well as the specific requirements of the ATOL scheme.

In order to make a report under the new rules accountants will need to be trained and designated by their professional body.  Without this training an accountant is ineligible to make a report and the CAA will not accept it.  This would of course seriously damage the business of any ATOL license holder.

Here at Plummer Parsons we are already ahead of the “game”.  We have prepared for the change, our team is fully up to speed and the appropriate training undertaken and the exams passed. This will enable us to ensure that we are fully equipped to provide our ATOL licensed clients with industry specific advice and assist them in meeting the new requirements set by the CAA.

If you are an ATOL holder and would like to further discuss how these changes will affect your business, please phone Steven Griffen on 01323 431200, or email steve.griffen@plummer-parsons.co.uk

 

 

 

Plummer Parsons