Lee Elsworth, one of our directors, is the ATOL licensed practitioner, which means he is responsible for the Air Travel Organiser’s Licence (ATOL) return work and can sign an Annual Accounts Report. He works with a team of qualified accountants and audit managers to deliver timely ATOL reports to our travel company clients.
From 1 April 2016 only ATOL Reporting Accountants can deal with ATOL work.
The scheme is designed to ensure that designated accountants of participating bodies, such as the ICAEW and ACCA, equip their members with appropriate knowledge about both the industry and specific requirements of ATOL. As well as providing the required assurance needed by the Civil Aviation Authority (CAA).
The ATOL Reporting Accountants' scheme, known as ARA, has been developed by the CAA with the objective of improving the standard of ATOL reporting. Also, its aim is to provide assurance that financial information, which is submitted on behalf of ATOL holders is accurate.
For travel companies registered with an ATOL, or accountants already working with ATOL holders but not licensed to carry out ATOL reporting work themselves, please get in touch we can provide the assurance needed by the CAA.
ATOL is a financial protection scheme that looks out for the interests of travellers.
Like any other important licence, travel companies who sell air holiday packages and flights are required to meet a number of requirements before being issued one. This is strictly regulated by the Civil Aviation Authority - the UK's independent 'aviation police'.
How Does ATOL Work?
Travel companies with an ATOL must contribute to a protection fund, called the Air Travel Trust. In the event of an ATOL registered company going into administration, the trust is used to cover (or partly at least) the costs for those who have pre-paid for packages, and repatriating those already on holiday.