Scope
Reference
SR2530424717
Description
The procurement requirement is for three Bloomberg Terminal Licences which will provide Tax Specialists with data that is vital to their compliance work.
Contract 1. Terminal access to real-time global financial data
Supplier
Contract value
- £122,817 excluding VAT
- £147,301.61 including VAT
Above the relevant threshold
Earliest date the contract will be signed
31 July 2025
Contract dates (estimated)
- 31 July 2025 to 30 July 2027
- 2 years
Main procurement category
Services
CPV classifications
- 72000000 - IT services: consulting, software development, Internet and support
Contract locations
- UK - United Kingdom
Other information
Description of risks to contract performance
For the purpose of transparency, the contract value stated in the Contract 1 section is subject to currency fluctuations between USD and GBP. This is due to the product being available exclusively from a supplier based in the United States.
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Direct award
Direct award justification
Single supplier - intellectual property or exclusive rights
This is being processed as a direct award because there are no substitute/competing products for Bloomberg. Bloomberg is the authoritative source for commercial debt data. The Bloomberg data can only be acquired from Bloomberg themselves, it is not available through resellers and so HMRC can only obtain the data through a direct award.
Direct award conditions and permissible justifications are set out under Chapter 3 and Schedule 5 of the Procurement Act. There is justification for a direct award on the grounds set out under paragraph 5 of Schedule 5 where the following conditions are met in relation to the public contract-
(a)due to a particular supplier having intellectual property rights or other exclusive rights, only that supplier can supply the goods, services or works required, and
(b)there are no reasonable alternatives to those goods, services or works.
Supplier
BLOOMBERG L.P.
- Companies House: OE018811
- Public Procurement Organisation Number: PHRT-2555-DXMY
3 Queen Victoria St
London
EC4N 4TQ
United Kingdom
Email: mellings@bloomberg.net
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Contract 1. Terminal access to real-time global financial data
Contracting authority
HM Revenue & Customs
- Public Procurement Organisation Number: PVMW-8599-JZNJ
100 Parliament Street
London
SW1A 2BQ
United Kingdom
Region: UKI32 - Westminster
Organisation type: Public authority - central government