What are the new VAT rules and how will they affect me?
A. VAT incurred on Framework 7 grants will not be reclaimable from HMRC. VAT is also an ineligible cost according to EC Financial Guidelines and therefore cannot be claimed from the EC either. This means that VAT incurred on Framework 7 grants is an additional cost which departments will need to fund from their share of overheads earned. Further information is available here.
