BID Rules

Business Improvement Districts are governed by The Business Improvement Districts (England) Regulations 2004. Following a ballot, once a majority vote has been achieved in both individual properties and rateable value, a BID levy becomes mandatory on all eligible occupiers.

The BID levy that provides the BID’s funding is governed by a set of rules.

The BID Rules

  • The BID term will be a period of five years from December 1, 2021, until November 30, 2026
  • The BID levy will be applied to rated properties with a rateable value of £50,000 or more
  • The levy will be a fixed rate of 1% rateable value as at April 1, 2021, using the 2017 list for all eligible ratepayers
  • A BID levy CAP will be applied to each hereditament of £50,000
  • The BID levy will apply to retail, food and beverage, leisure (Hotels) and office hereditaments
  • Properties that come into the rating list during the BID term will be subject to the levy from the date that the property is brought into the rating list and the rateable value effective at that time
  • Where the rateable value for an individual hereditament changes and results in a lower levy, then this comes into effect only from the start of the financial year in which the change is made and no refunds will be made for previous years
  • The levy will assume an annual growth rate for inflation of 3% to be applied on April 1 each year
  • There will be no VAT charged on the BID levy
  • There is no distinction to be made between occupied or unoccupied hereditaments
  • The BID levy will not be increased other than as specified in the levy rules
  • The BID levy rules, and BID area cannot be altered without an alteration ballot

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