Team London Bridge

BID Levy and Eligibility

The BID levy will be the principal source of income for the BID. For the first year of the fourth BID term (2021-2026), the BID levy multiplier has been set at 0.90%, based on the 2017 rating lists. Only businesses with a “rateable value” of £20,000 or more (according to the 2017 ratings list as of 1 April 2021 and annually thereafter) are eligible for both the vote and levy. This low threshold ensures contributions from a wide range of businesses.

For newly assessed hereditaments (due to challenges, splits, mergers, or new developments), the BID levy will be applied based on the most recent Ratings List. The levy is capped at £50,000 per hereditament.

Levy Adjustments and Payment Rules

The levy may increase by up to 3% annually at the Board’s discretion, with the first possible uplift to 0.927% in year 2. Businesses receiving mandatory charitable relief will have the same relief applied to the BID levy, but no other types of relief (e.g., small business or historical) will be granted.

The BID levy is charged annually, with an option to pay in one or two instalments. If an occupier moves out, they receive a refund for the remainder of the year. If an occupier moves in partway through the year, they will be charged from that point if eligible. For hereditaments subject to the £50,000 levy cap, partial-year liabilities will be calculated pro-rata based on this capped amount.

The levy applies to newly built or occupied premises in the BID area during the BID’s lifetime. Owners of empty properties must pay 50% of the normal BID levy until occupation, even if receiving 100% business rates relief.

Exemptions and Special Considerations

The Board may discount the levy by up to 25% in years 1 and 2 due to COVID-19 impacts, except where other discounts apply.

The BID term runs from 1 April 2021 to 31 March 2026. Before this period ends, the BID Board may seek renewal through a ballot.

Hereditaments with a rateable value under £20,000 are exempt from the levy and cannot vote in a BID ballot, except through a Director on the BID Board. However, they can still participate in BID activities.

The following hereditaments are exempt from both voting and paying the levy: advertising hoardings, telecom masts, schools, places of worship, and ATMs.

Read the 2026-31 Levy Rules here or contact us for more information.