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ATOL Reform OVERVIEW. Paul Nunn. Financial Operations Manager, Advantage Travel Centres. What’s to follow…. The facts How does the reform affect Advantage members? What do you need to do? Advantage ATOL activity Summary. The facts. Becomes law 30 April 2012 Flight Plus
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ATOL Reform OVERVIEW Paul Nunn Financial Operations Manager, Advantage Travel Centres
What’s to follow…. The facts How does the reform affect Advantage members? What do you need to do? Advantage ATOL activity Summary
The facts Becomes law 30 April 2012 Flight Plus Flight Only - TMC exemptions Additional Liability Agency Agreements ATOL Certificates
How are Advantage members as a whole affected? Hugely diverse membership Over 50% of Advantage members are already ATOL holders Current ATOL holders still affected by the reform 170 member companies non-ATOL Approximately 60 members requiring an ATOL
What you need to do • Non-ATOL holders • Establish the level of turnover (and profit) • Obtain the cost of acquiring an ATOL… • …and protecting your business • Make a commercial decision • ATOL holders • Ensure you pick up bookings that now fall under ATOL • Ensure your paperwork and VAT position is correct
What has, and is, Advantage doing? In dialogue with trade bodies AMS – Accredited Body JAS for members with licensable turnover up to £1.5m TravTrust for members in excess of £1.5m Intranet ATOL hub Hosted Agency Agreements Bonding and failure insurance
Summary Know your business split and make a commercial decision Put in place processes to be compliant Advantage has and will continue to assist members Take advantage of key personnel at this year’s conference
