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Finance Helpdesk Newsletter #43

EU Publishes new revised financial regulations

VAT an Eligible Cost??

Finance Helpdesk Webinars

Upcoming Finance Helpdesk Workshops

The Run-up to Horizon 2020


EU Publishes new revised financial regulations:

EU Publishes new revised financial regulations which become applicable on 1 January 2013.


These new regulations effect FP7 Projects.


For example:

·         Beneficiaries of EU funds will no longer be obliged to open a separate bank account to receive an upfront payment at the start of a project and to return to the Commission any interest yielded by this money while it stays on this account – unless this issue is specifically addressed and included in the Grant Agreement.

·          Pre-financing payments are to be speeded up.

·          The following costs are Eligible only if allowed in the call for proposals:

-    Pre-financing Guarantees

-    External Audit Costs as required for payment.

-    VAT if the VAT is unrecoverable (please see official journal for full text)

-    Depreciation Costs

-    Salary costs of personnel of National Administrations for work that they would not do if not in the project.


The Commission is currently busy producing new financial guidelines for these regulations but they will take a while to come out. In the meantime, please read the regulations or come to one of our upcoming workshops.


To download the new Regulations please click here.

Finance Helpdesk Webinar:

Following the very successful launch of the Finance Helpdesk Webinars last year, the Finance Helpdesk provides Webinars on specific topics.


There are two ways that we provide Webinars:

1)    Via Public registration

2)    Via specific Projects or Organisations.


1)    Via Public Registration:

Finance Helpdesk Public Webinars are given on a first come first serve basis. A list of upcoming Webinars and registration can be found via the Catalogue which can be found here. Please note, we add dates and topics constantly, for more information, just keep an eye on the Catalogue page (we suggest you bookmark it).

These Webinars last for 90 mins each and are highly interactive for the best learning experience.

Some of the Webinars are free and some incur a fee.

We invite you to join us.


2)    Via specific Projects or Organisations

The Finance Helpdesk provides Webinar services that are specifically tailored to Projects or to Organisations. For Example:

Project “A” wishes the Finance Helpdesk to provide Webinars to their Project Partners only on specific subjects such as:

·          How to prepare for filling in Form Cs

·          How to correctly calculate Personnel Costs

·          How to prepare for an Audit

·          etc


In this case, the Finance Helpdesk will prepare tailored Webinars for the Project. The Project would receive their own Catalogue link from which to register from.


Next Public Webinars:


06/02/2013          Webinar: Module 4 - Personnel Costs

07/02/2013          Webinar: Module 6 - Eligible and Ineligible Costs.

13/02/2013         Webinar: Module 2 - Introduction and Tutorial to the Free FP7 Book


Upcoming Finance Helpdesk Public Workshops:


Next Public Workshops:

Please note: at time of publication, there were still places available for the workshops below.


24/01/2013                    1 Day FP7 Financial Workshop in London-Heathrow, UK.

25/01/2013                    Getting ready for Horizon 2020 **NEW TOPIC**

28/01/2013                    3 Day Financial Workshop in London - Heathrow, UK.

19/02/2013                    2 Day Marie Curie Workshop in London - Heathrow, UK.

21/02/2013                    1 Day ERC Workshop in London - Heathrow, UK.



The Run-up to Horizon 2020:

We all thought that with one year to go until the launch of Horizon 2020, the major decisions about Horizon 2020 would be agreed.

Unfortunately, this does not seem to be the case.


The Current Council proposal allocates approximately around €70bn to Horizon 2020. This is still a lot of money, however is down from the Commission’s original proposal of €80bn.


To cut a long story short Horizon 2020 is a bit of a mess at the moment, but the clock is ticking and the politics will have to get sorted out quickly or else Horizon 2020 will start with an inflation linked FP7 Budget.



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