New Procurement Thresholds from 1 January 2024

The award for most elegant use of brackets in a title must surely go to the recently enacted Public Procurement (Agreement on Government Procurement) (Thresholds) (Amendment) Regulations 2023 !

These Regulations update the procurement thresholds slightly from 1 January 2024 for public contracts, utilities contracts, and concession contracts. 

A reminder that thresholds are now to be calculated inclusive of VAT.

However, don't forget that, while contract values are to be calculated inclusive of VAT for the purposes of assessing whether thresholds are exceeded, guidance in PPN 10/21 states that contract values inputted into Contract Notices and Contract Award Notices should continue to be stated exclusive of VAT.

Click here to download our handy pdf one-pager setting out the new thresholds. Procurement-Thresholds-From-1-Jan-2024.pdf

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