Furloughing on behalf of clients: engagement letters helpsheet
21 April 2020: ICAEW has put together a helpsheet for members that lays out respective responsibilities when providing furlough grant claim services to clients.
As ICAEW Chartered Accountants, many of us have been working flat out since lockdown to take clients through the Coronavirus Job Retention Scheme and assist in furloughing their employees.
Yesterday at 8am, the HMRC portal where a claim for the grant monies can be made was opened both to businesses and agents.
In our rush to get cash flowing into our clients’ businesses as soon as possible we should not forget to set out our respective responsibilities, and, to manage expectations on both sides.
We have issued a new schedule to our standard engagement letter template to facilitate this: ‘Part 2 J Section C: Furlough Grant Claim Services’ that can be referenced to your original client engagement letter, or be issued as part of a new one. The schedule should be used in conjunction with our engagement letter guidance.
In the present climate, it makes sense to do this via email.