Business and Finance News Service

Award outcome

Description

This is a requirement to renew our annual subscription with Financial Times. HMRC has acquired Financial Times (FT) for over 8 years. Each year HMRC direct award to FT. Background - There was investigation to see if it could be procured via another supplier, but the cost was higher than a direct renewal. The FT provides HMRC colleagues with business, economic, markets, analysis, policy and risking news, with both a national and international focus; it is used across over 30 HMRC Business Areas for a variety of purposes, including but not limited to: • Risk profiling of individual companies • Business sector analysis (intervention) • Market trend analysis • Potential tax gap analysis • Help informing the production of budget papers for central Government • Identifying potential wealth/ownership of properties etc. • Case Working • Informing Policy Changes • Keeping up to date on Brexit news • Assessing risks • Tax and business policy analysis, • background on corporate and public policy making, • OECD or EU guidelines and policy changes • helping analysts interpret trends - eg emergence of new sectors, useful feedback from business leaders themselves • keeping people aware of issues to ensure they can react quickly to briefing requests from Ministers and take mitigating action, • provide insight into avoidance schemes, • plus their research has been useful reference for our analysts and they provide useful comment on HMRC.

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