Frequently Asked Questions
If my business falls into the area, is membership of the BID compulsory?
If the BID is approved, the levy is compulsory for all businesses in the geographical area whose property has a rateable value of over £21,500
Who pays the levy – property owners, business managers or residents?
The person who pays the business rate will be responsible for paying the additional levy. UK legislation does not oblige property owners to pay but they will be invited do so on a voluntary basis.
What happens if I don’t pay?
If you are required to pay the BID levy but do not do so, the enforcement procedures will be the same as those that currently exist for the non-payment of non-domestic rates.
How does a BID benefit my business?
There are a number of ways -
• no freeloading - those who vote have a voice, pay the levy and will benefit
• it’s a transparent, clear and democratic process
• it allows self-management and self-funding with no red tape or bureaucracy
• in the long term it will deliver significant economic and quality of life benefits.
How many businesses decide if a BID will go ahead?
In a ballot, the law requires that two criteria to be met. More than 50% of the votes cast must be in favour. These must represent more than 50% of the rateable value of the votes cast.