Carolyn Watson, ABTA’s Head of Finance, CRM & Corporate Services has today welcomed the decision by HMRC to maintain current rules on the operation of TOMS (Tour Operators' Margin Scheme) in the UK.
She said: “We welcome today’s decision by HMRC not to implement any immediate changes to TOMS in the UK. This is excellent news for many of our Members who might have faced very significant costs if they had been bound to implement the changes resulting from the ECJ rulings on Wholesale Travel arrangements and Global Margin calculations.
“It is also really positive that HMRC has taken on board the potential disruption to these operators of making changes which may yet be reversed or amended when the EU commission eventually review the scheme.
“ABTA will continue to work closely with HMRC and the EU as they look to review their position on how to apply and amend the scheme in the future.”