One of the main offering bodies we perform grants for our clients on is UKRI (Innovate UK). The frequency of the accountant's reports required for their claims is based upon the size of the grant funding being offered in virtually all circumstances, unless where a very short project, where one would only be required upon completion.

This is summarised below:

• Grant offer in excess of £2,000,000 
  Report required with each claim
• Grant of between £500,000 and £1,999,999
  Report with first claim, last claim, and on each anniversary claim*
• Grant between £100,000 and £499,999
  Report with first claim and last claims only
• Grant between £50,000 and £99,999
  Report with last claim only

In preparing reports at these intervals, all costs which have not yet been reported upon need to be included i.e. for a "last claim only" grant report, all costs throughout the course of the project would be required to be reported upon.

*Anniversary grants are where there are 12 months / 4 quarters since the last accountant's report was submitted. The example UKRI provide is where a first quarter report was submitted in the second period, the next report would be due in quarter 6.