Are you an ATOL Licence Holder?

ATOL licence holders have for some time been required by the Civil Aviation Authority (CAA) to have their returns certified by an accountant, and in the past there have been no rules about which firms could perform this work.                                                                                 

The CAA have introduced new rules since 1 April 2016, called the ATOL Reporting Accountants’ Scheme (ARA) to require that any accountants providing the certified information have demonstrated, by holding an appropriate licence, that they have adequate knowledge about the travel industry to properly perform this work, whilst also following the specific requirements of the ATOL scheme.

From this date, accountants need to be designated by their professional body as a licenced practice, with a principal of that firm having trained and passed an examination in order for them to be eligible to submit a report that the CAA will accept.

Without the appropriate report from a licenced firm of Accountants, the CAA will not accept the ATOL registered firm’s report, which could have some very damaging results to the ATOL business by potentially losing its ATOL registration.

Dodd & Co are currently the only Cumbrian firm (with Martin Ward being the qualified individual) to hold this licence. Indeed we are aware of firms that have been reluctant to undergo the appropriate training to be able to perform this work, and consequently are no longer eligible to report to the CAA on behalf of their ATOL registered clients.

If you are an ATOL registered firm and require an Accountants Report, please contact Martin Ward on 01228 530913 or email martin@doddaccountants.co.uk and we will be pleased to assist you.

 

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