This Q&A highlights key principles and considerations for contracting authorities when valuing a contract for the purpose of the financial thresholds under the Public Contracts Regulations 2015 (PCR 2015), SI 2015/102. It also looks at an example where a contracting authority is looking to value a managed service contract, where there is a difference between the remuneration to be paid to the contractor and the sum to be paid under the contract as a whole.