Award

Business and Finance News Service

H M REVENUE & CUSTOMS

This public procurement record has 2 releases in its history.

AwardUpdate

31 May 2022 at 11:26

Award Notice
Award

31 May 2022 at 10:49

Award Notice
Summary of the contracting process

The procurement process for a "Business and Finance News Service" contract was conducted by H M Revenue & Customs (HMRC), located in Salford, England. This contract falls under the industry category of data services, with a total value of £560,354. The procurement method was a direct award through a single tender action, executed below the threshold. The tender period ended on 30 April 2022, while the contract commenced on 1 May 2022 and is set to last until 30 April 2025. The contract has recently been awarded as of 30 April 2022, with the formal notice published on 31 May 2022.

This tender presents a significant opportunity for businesses in the data services and financial information sector. Companies that specialise in providing economic analysis, market insights, and risk profiling services may find this contract particularly relevant. Given that HMRC has engaged in a long-term relationship with the supplier, The Financial Times Ltd, businesses able to demonstrate competitive offerings and value-added services related to data analytics are encouraged to consider future opportunities within HMRC's procurement strategy.

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Notice Information

Notice Title

Business and Finance News Service

Notice Description

he FT provides HMRC colleagues with business, economic, markets, analysis, policy and risking news, with both a national and international focus; it is used across over 30 HMRC Business Areas for a variety of purposes, including but not limited to: * Risk profiling of individual companies * Business sector analysis (intervention) * Market trend analysis * Potential tax gap analysis * Help informing the production of budget papers for central Government * Identifying potential wealth/ownership of properties etc. * Case Working * Informing Policy Changes * Keeping up to date on Brexit news * Assessing risks * Tax and business policy analysis, * background on corporate and public policy making, * OECD or EU guidelines and policy changes * helping analysts interpret trends - eg emergence of new sectors, useful feedback from business leaders themselves * keeping people aware of issues to ensure they can react quickly to briefing requests from Ministers and take mitigating action, * provide insight into avoidance schemes, * plus their research has been useful reference for our analysts and they provide useful comment on HMRC.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-2124fddc-11f7-48d7-90b7-99de8700cb8c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/ebaf18e5-46f9-439a-bab7-035bc1b55a40
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Goods
Procurement Method
Direct
Procurement Method Details
Single tender action (below threshold)
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

72 - IT services: consulting, software development, Internet and support

CPV Codes

72300000 - Data services

Notice Value(s)

Tender Value
£560,354 £500K-£1M
Lots Value
Not specified
Awards Value
£560,354 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
31 May 20223 years ago
Submission Deadline
30 Apr 2022Expired
Future Notice Date
Not specified
Award Date
29 Apr 20223 years ago
Contract Period
30 Apr 2022 - 30 Apr 2025 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
H M REVENUE & CUSTOMS
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
SALFORD
Postcode
M60 9LA
Post Town
Manchester
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD3 Greater Manchester
Small Region (ITL 3)
TLD34 Greater Manchester South West
Delivery Location
Not specified
Local Authority
Salford
Electoral Ward
Ordsall
Westminster Constituency
Salford

Supplier Information

Number of Suppliers
1
Supplier Name

THE FINANCIAL TIMES

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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