BACA members made their way to the Baltic Exchange in London on Tuesday 27th November for training presentations on two subjects that ‘are often misunderstood and are of current importance to brokers and operators,’ according to a press release.
The two topics were EU 261 regulation regarding compensation for European flight delays and TOMS (the Tour Operators Margin Scheme).
The session started with a presentation by Matthew Reeve of Quadrant Chambers who highlighted the application of EU261 to the charter market for tour operators and series charter flights.
Recent case law has served to muddy the waters on the interpretation of what is already a complex regulation. Charter brokers should make sure that they fully understand the application and implications of this regulation.
The second session was presented by Pinsent Masons. Stuart Walsh explained TOMS for brokers and agency rules, which has long been a complex and contentious area for charter brokers.
It remains vital that all involved in the market preserve clarity in their contracting arrangements and dealings with HMRC or other relevant tax authorities. This was followed by information from Maryse Heijnen on Making Tax Digital, taking effect from 1st April 2019.
BACA Chairman Richard Mumford summed up the day by thanking the presenters and advising the audience that from a lawyer’s perspective these are extremely important issues that have been raised.