Procurement Policy Note (PPN) 11/23: New Threshold Values

 
 
Commencing on 1st January 2024, adjustments have been made to the procurement thresholds specified in the Public Contracts Regulations 2015, the Concessions Contracts Regulations 2016, and the Utilities Contracts Regulations 2016. Please refer to Procurement Policy Note (PPN) 11/23 on the Government website for a comprehensive overview of the revised thresholds.
 
It is crucial to note, as emphasized in PPN 11/23 concerning the updated thresholds, that while contract values are taken inclusive of VAT for the purposes of assessing whether the thresholds are met, the contract values inputted into Contract Notices and Contract Award Notices should continue to be stated exclusive of VAT. However, the PPN also trails a new point; when the Procurement Act 2023 is implemented in Autumn 2024, this approach will change, and statements of contract value in transparency notices will then need to be made inclusive of VAT.
 
You can find links to all PPN's here - GOV.UK - Procurement Policy Notes on the NWUPC website.