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Lower Thames Crossing (LTC) - Statutory Auditor

National Highways

This public procurement record has 2 releases in its history.

Award

10 Jul 2026 at 15:29

Award Notice
Award

07 Jul 2026 at 11:38

UK5 - Transparency Notice
Summary of the contracting process

The procurement process for the Lower Thames Crossing (LTC) Statutory Auditor services involves National Highways Limited as the contracting authority. The contract, classified under the CPV code 79212300 for statutory audit services, supports the creation of a regulated road company, named Reg Co., with revenues from the Dartford Crossing and the new LTC Crossing. This project operates under the Regulated Asset Base (RAB) model, announced in the Chancellor's 2025 Autumn Budget. The procurement method employed was an open procedure, with a direct award to Menzies LLP, following a single compliant bid from this open procedure. The contract was signed on 26th June 2026, and the service period is set from 13th July 2026 to 14th June 2029. National Highways, located in Birmingham, oversees this procurement, which falls within the services category, and is covered by the General Procurement Agreement (GPA).

This tender presents significant business growth opportunities, particularly for large firms specialising in statutory auditing services capable of managing complex financial audits and evaluations in line with the Companies Act 2006 and Financial Reporting Council (FRC) standards. Companies with expertise in auditing within regulated sectors, especially in infrastructure and transport projects, would find this opportunity apt for expanding their portfolio with a high-profile client such as National Highways. Engaging in this contract allows businesses to participate in a pivotal UK infrastructure project, strengthening their market presence and expertise in handling substantial financial audits required for RAB model financing in the public sector.

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Notice Information

Notice Title

Lower Thames Crossing (LTC) - Statutory Auditor

Notice Description

National Highways is intending to appoint a Statutory Auditor able to provide an audit opinion that Reg Co.'s Carve Out accounts are reliable, legally compliant, and present a true and fair view, in accordance with the Companies Act 2006 and Financial Reporting Council (FRC) auditing standards.

Lot Information

Lot 1

In the Chancellor's November 2025 Autumn Budget, the Regulated Asset Base (RAB) model was announced as the Government's preferred financing method for the Lower Thames Crossing (LTC) project which will involve the creation of a regulated road company (Reg Co.) that will be sold to private investors prior to a finance raise (debt) for the main construction works. Reg Co. will receive revenues from both the existing Dartford Crossing and new LTC Crossing which it will use to service its financing and repay lenders and investors. National Highways and DfT have appointed advisors to support and execute the sale process. In preparation for the sale and the preceding Vendor Due Diligence (VDD) National Highways will prepare Carve Out accounts for the financial years 2024 2025, 2025-2026 and 2026-2027 for Reg Co. and these will need to be audited.

Procurement Information

Single compliant bid from open procedure

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06c4fc
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/065281-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK5 - Transparency Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79212300 - Statutory audit services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£291,181 £100K-£500K
Contracts Value
£291,181 £100K-£500K

Notice Dates

Publication Date
10 Jul 20262 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
13 Jul 2026 - 14 Jun 2029 2-3 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active, Pending
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
National Highways
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BIRMINGHAM
Postcode
B4 6GA
Postcode Area
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG31 Birmingham
Delivery Location
Not specified
Local Authority
Birmingham
Electoral Ward
Ladywood
Westminster Constituency
Birmingham Ladywood

Supplier Information

Number of Suppliers
1
Supplier Name

Menzies LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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