travel

The current outlook for the travel industry

With the travel industry recovering from the Covid pandemic and travellers facing new challenges, such as high inflation, increasing interest rates and high energy bills, there is a general uncertainty as to their appetite for travel.

Whilst the ‘cost-of-living’ crisis is putting pressure on travellers’ finances, many do still want to travel, with all-inclusive breaks being the preferred choice, providing the much-needed escape from the challenges of everyday life.


The Civil Aviation Authority (CAA) and the ATOL Reporting Accountants’ (ARA) scheme

The CAA developed the ARA scheme to help improve the standard of ATOL reporting and to provide assurance that any financial information submitted to it is accurate. It designed the scheme to ensure accountants are sufficiently knowledgeable about the travel industry as well as the specific requirements of the ARA scheme.


What is the ARA scheme?

The ARA scheme was set up by the CAA and the Institute of Chartered Accountants in England and Wales (ICAEW) under agreement to ensure competent ATOL Reporting, and accountants are required to be a designated ARA to provide ATOL reporting.

How can we assist?

As a Licenced Practice, travel industry clients can be assured that the standards required by the CAA will be met. Our team, led by Partner, Luke Metson, have undertaken the relevant training required by the CAA, and will ensure that continuing professional development meets the requirements of the CAA and the ICAEW.

Further information

For more information on services provided by CBW, part of Gravita, for businesses in the travel industry, please contact Luke Metson.

Similar Insights

Labour government
What the new Labour government means for you and your business
As the Labour government takes office, we want you to know we’re here to help you navigate the changes...
Read More
Election Manifesto
Unpacking the 2024 Election Manifestos: What Tax Changes Could Mean for You
With the 2024 election drawing near, understanding the potential tax implications of each party’s...
Read More
bitcoin
Spot Bitcoin ETFs: A new dawn for bitcoin investment?
On 10 January 2024, the US-based Securities & Exchange Commission (SEC) approved the listing and...
Read More

Sign up to Gravita's latest updates and newsletters

Stay up-to-date with our event invites, latest news and updates, straight from Gravita’s experts.