Revenue faces £10m bill for retendering IT contract
The Inland Revenue has admitted it could cost up to £10m to encourage companies to bid for the £4bn IT contract to run the UK's tax systems.
The Inland Revenue has admitted it could cost up to £10m to encourage companies to bid for the £4bn IT contract to run the UK's tax systems.
The current contract is run by EDS and is up for renewal in 2004. The Revenue estimates it will be worth between £300m and £400m a year for a minimum of ten years and a maximum of 18 years.
But the cost of bidding for a contract that industry experts believe is likely to stay with EDS is said to be putting potential bidders off, and the Revenue admits it may have to cover those costs to make the competition fair.
A spokeswoman for the Revenue said these had been estimated at between £5m and £10m.
‘That decision will be made after the initial stage of the competition and will be based on value for money criteria,’ she said.
Initial responses and expressions of interest must be made this week and the spokeswoman said more than 100 had been received so far. Bids must be made by 10 May and a shortlist will be announced between August and October, with the winner selected in December next year.
The numbers you crunch tell a story. Your expertis...
22yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article