We’ve undertaken the training, taken the exam and accordingly, we’re delighted to now be registered as an Air Travel Organisers License (“ATOL”) reporting accountancy practice.
Whilst it has been a requirement for many years that ATOL license holders submit returns that are duly certified by an accountant, from 1 April 2016, should accountants wish to act for ATOL license holders and submit reports to the Civil Aviation Authority (“CAA”), the accounting firms must be official ATOL Reporting Accountants. This is an important change as from this date, only approved and licensed accountancy firms will be able to sign the ATOL accountant reports.
To become an ATOL Reporting Accountant a firm must be licensed by The Institute of Chartered Accountants in England and Wales ("ICAEW"). The CAA has designed the new scheme so as to improve and ensure competent and accurate ATOL reporting. Amongst the specific requirements, the license also verifies that these firms are sufficiently knowledgeable about the travel industry.
As we are now registered to be such a Licensed Practice, this enables us to provide our ATOL licensed clients with appropriate and relevant advice specific to their business and to assist them in meeting the requirements of the CAA.
Lubbock Fine has a specialist team which undertakes such ATOL work. As all ATOL holders and their accountants will be affected by the ATOL Reporting Accountant Scheme from 1st April, please contact Stephen Banks on 020 7490 7766 or Stephenbanks@lubbockfine.co.uk for help or further information.