All research grant proposals and fellowship applications submitted will be costed on the basis of full economic costs (fEC). If a grant is awarded, research councils will provide funding at 80% of the fEC. The organisation must agree to find the balance of fEC for the project from other resources.
Universities and other higher education organisations will use the Transparent Approach to Costing (TRAC) methodology to calculate full economic costs.
This methodology has been validated by UKRI and is subject to ongoing review.
Other research organisations, research institutes and public sector research establishments can use dispensation rates or can calculate their own rates for validation by UKRI Funding Assurance.