Innovate UK IP audit funding: what if you cannot get a grant?

An IP audit helps you understand what your business owns, where there are gaps in protection and which issues deserve attention first. Funding can help with the cost, but not every business qualifies for support.

If you cannot obtain a grant, you can arrange an IP audit directly with Panoramix IP for £995 plus VAT. For a UK purchase, that is £1,194 including VAT. You do not need a grant application or funding approval to use this service.

How does Innovate UK IP audit funding work?

The Intellectual Property Office’s IP Audit scheme contributes towards an audit by a qualified IP professional. In England, applications are made through Innovate UK Business Growth. The official guidance describes funding of up to £2,250 including VAT, with the business contributing £750 including VAT.

The scheme forms part of growth support. Innovate UK Business Growth says participating businesses must be receiving intensive support from an innovation and growth specialist. An adviser can explain the current eligibility, application process and availability; funding should not be assumed.

For the current details, see Innovate UK Business Growth’s IP Audit guidance and the GOV.UK funding summary. Businesses outside England should check the relevant regional delivery partner.

If funding is not available, you can still review your IP

You may not meet the scheme’s criteria, or your adviser may confirm that funding is unavailable. That does not prevent you from commissioning an audit yourself. You might need to understand ownership before investment, review work created by contractors, or decide which rights to protect before a product launch.

Panoramix’s direct audit is a separately purchased professional service, rather than a grant or a promise of reimbursement. It reviews your business’s IP position and provides a written report with prioritised recommendations. Our team confirms the scope and accepts the order in writing after the required checks.

What is the difference in cost?

Funded and direct IP audit options

Option	Your payment
IP Audit scheme, if approved	£750 including VAT, as described in the current scheme guidance.
Panoramix direct IP audit	£995 plus £199 UK VAT: £1,194 total. No grant application required.

The difference between those stated VAT-inclusive payments is £444. The stated £750 contribution already includes VAT. Your adviser can confirm the funded scheme’s terms. Panoramix will confirm the scope of your direct audit.

What will Panoramix review?

The audit considers the intellectual property relevant to your business: brands and trade marks, inventions, designs, copyright material, software, confidential know-how and the ownership arrangements around them. Relevant registrations, licences and development agreements help establish the current position.

Your written report identifies issues and sets out practical priorities. We discuss the findings so you can decide what to address next. Registering rights, drafting new agreements, implementing recommendations and other additional work are agreed separately; they are not automatically included in the audit fee.

Read the IP audit service page for more about the review. If you already have funding approval, speak to us before buying so the instruction can follow the correct route.

How to arrange your audit

You can buy the direct IP audit online for £995 plus VAT. After secure payment, use your private link to tell us about your business and what you want the audit to address. We will contact you about the records needed and confirm the work in writing.

If you would like to discuss suitability before paying, contact our team or call 01522 712 433. The Terms of Business explain engagement, payment and cancellation.

Funding information checked against the official sources on 10 November 2026. Eligibility, availability and scheme terms can change.