Team London Bridge

Who is eligible to vote in the BID ballot?

Businesses are eligible to vote in the BID ballot if they occupy/pay non-domestic business rates on one or more hereditament within the BID area and are entered into the non-domestic rating list at that time.

Levy Rules 2026-31

A BID levy of 1.2% of rateable value will be charged on all eligible hereditaments listed in the 2023 Rating List as at 1 April 2026.

Subsequent changes in rateable value (increases or decreases) on any hereditament within the BID area will not be applied.

All new hereditaments entering the Rating List after 1 April 2026 will be levied at 1.2% of the rateable value in the prevailing list from the point of occupation.

A threshold of £22,000 rateable value will be applied, thereby exempting any businesses within the BID area falling below £22,000.

The BID levy will increase by an inflationary factor of up to 0.03 in successive years (ie. Up from 1.2% in year 1 to 1.23% in year 2, to 1.26% in year 3, to 1.29% in year 4, and to 1.32% in year 5)

The term of the BID will be five years from 1 April 2026 to 31 March 2031.

The levy will be charged annually in advance for each chargeable period from April to March, no refunds will be made.

In the case of empty or untenanted properties, the owner will be liable for the BID levy with no void period.

Those in receipt of mandatory charitable relief will receive 80% discount on their BID levy.

A cap on annual levy payable per hereditament will be £90,000 for year 1, increased by an inflationary factor of 3% in successive years (ie. Up to £92,700 in year 2 to £95,481 in year 3, etc).

BID levy is collected by Southwark Council on our behalf.

Exemptions

Hereditaments with a rateable value of less than £22,000 are not eligible to pay the BID levy.

Businesses are not eligible to vote if their sole hereditament is less than £22,000.  These businesses will not have the rights to vote on BID matters other than via their Director on the BID Board (see below), as they are not eligible to pay the levy.  However, these businesses can still be involved in BID activities/Taskgroups, and so on.

The following types of hereditaments will be excluded from voting and from paying the BID levy: advertising hoardings, communication stations/telecom masts, schools, places of worship and ATMs.

Read the 2021-26 Levy Rules here or contact us for more information.