Business Improvement District (BID)

How the BID levy is calculated

We base the BID levy on a daily charge to match the liability for business rates, as determined by rating statute.

The BID levy is 1% of the rateable value (RV) adjusted for inflation on all eligible properties with a RV of £20,000 or more until 31 March 2023.

From 1 April 2024 the BID levy will be 1.5% of the rateable value (RV) adjusted for inflation on all eligible properties with a RV of £20,000 or more.

Changes to your business property

Any changes to your business rates account will automatically update your BID account. This includes any changes to the rateable value of your business property. The Valuation Office Agency (VOA) provide the council with a Schedule of Amendments to confirm any changes in RV.

Rateable value increases

If your RV increases you will receive an invoice for the extra amount due. This will be for the financial year we receive the Schedule of Amendment. We will not backdate the charge to a previous financial year.

Rateable value decreases

If your Rateable Value reduces you will receive a refund for any amount overpaid. This will be for the financial year we receive the Schedule of Amendment.

Exemptions and reliefs

The BID levy is payable on all properties within the BID area whether they are occupied or empty. No allowances will be made for listed buildings, serviced buildings or those in receipt of mandatory or discretionary rate relief.

Charitable walk-in advice centres are exempt from paying the levy.

Only properties with a rateable value higher than £20,000 pay the BID levy, if you have any queries regarding the RV of your property then:

Give feedback and let us know if this page was helpful