The reporting requirements are applicable to Annual Accountants’ Report for ATOL renewals relating to all licence periods from 1st April 2016 and all periods thereafter and the first renewal affected for reporting purposes is 30th September 2016.
The ATOL renewal cycle depends on the financial year end of the ATOL holder:
- June to November financial year ends have a March ATOL renewal cycle
- December to May financial year ends have a September ATOL renewal cycle
So these changes will affect ATOL holders with December 2015 year ends onwards.
From 1st April 2016, the CAA will accept reports only from trained and designated ATOL Reporting Accountants.
The deadline for submission of ATOL Reporting Accountants’ reports is the earlier of:
- The expiry of a six month period after the ATOL holders financial year end or
- Its licence renewal date