Indirect Costs (also known as Overheads) can be claimed in FP7 Projects in addition to any Direct Costs.
For R&D projects and Networks of Excellence, Beneficiaries must select one of the following overhead calculation methods: 20% flat rate, 60% derogation rate (Note: 60% derogation rate will be reduced for calls after 1 Jan 2010), or Actual Costs. The EC preference is that overheads are calculated either via the Simplified or Analytical Accounting method described in the “Guide to Financial Issues relating to FP7 Indirect Actions”. Both of these methods are known as “Actual Costs” calculations of overheads.
The Finance Helpdesk has produced a leaflet which explains:
· The Different Overhead Methods;
· The Difference between Simplified and Analytical accounting methods;
· Correctly Applying Overhead Rates to FP7 R&D projects.
To view the leaflet click here.
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