Q: I have just received my BID levy bill. What do I do now?
A: The BID levy can be paid to London Borough of Bexley in a number of ways. The methods of payment are listed on your bill. You can look up how to pay at the council website. Please pay your levy bill on time as failure to do so will incur additional costs and may result in court action.
Q: Why have I received this BID levy bill?
A: In November 2016 all eligible businesses in Sidcup received a copy of the BID Proposal 2017-2022 and were asked to vote on the creation of a Sidcup BID with a simple ‘Yes’ or ‘No’ postal vote. Businesses voted by a majority ‘Yes’ to indicate they were in favour of having a Business Improvement District. This means that each year, for five years, we will raise the BID levy that will be used to carry out the BID Business Plan to improve Sidcup.
Q: Why is my BID levy bill from London Borough of Bexley and not the Sidcup Partner BID Company?
A: Current legislation requires all BID levies to be collected by the local billing authority, which in this area is London Borough of Bexley. The Council will hold the BID levy in a separate account and transfer this across to the BID Company directly.
Q: What is the difference between Business Rates and the BID levy?
A: Business Rates (also known as National Non-Domestic Rates) are a tax paid to the local authority and are used to pay for core services such as street maintenance, repairs and basic waste collection. All BID projects must be additional to the standard core services the Council provides from the collection of your Business Rates. London Borough of Bexley has provided a baseline agreement outlining its core services so that we can ensure all BID activity is additional. The BID levy has been approved by the business community via the ballot and can only be used on additional projects, services and events that will satisfy the BID Action Plan.
Q: I would like to query the amount on my bill
A: For enquiries related to the accuracy of your bill please contact London Borough of Bexley. Post: Bexley Council, Business Rates (BIDS), PO Box 368, Erith, Kent, DA8 1UB. Telephone: 0208 315 2174 Email: email@example.com Website: www.bexley.gov.uk
Q: How is my BID levy calculated?
A: Your levy is 1.5% of the rateable value for your property and is charged on an annual basis. For example, if the rateable value for your property is £20,000 you will be asked to pay £300. The BID levy year commences in 1st April 2017 and the annual levy is based on the rateable values and Business Ratepayers shown in the NNDR list at that time.
Q: I didn’t vote in the ballot or I voted no, do I still have to pay the BID levy?
A: Yes, all eligible businesses in the BID area are required to pay the BID levy.
Q: I moved into my property after the vote took place, am I still required to pay the BID levy?
A: Yes, after a successful vote all eligible businesses are required to pay the levy regardless of whether or not they were in occupation at the time of the ballot. You will be invoiced proportionately for the period of the BID year (1st April – 31st March) that you own your Business premises. We are happy to send you further information about the BID and recommend you Download the final BID Proposal document (2017-2022) to find out more. Please contact us at firstname.lastname@example.org.
Q: Since I paid the BID levy I’ve moved out of the property. Do I get a refund?
A: Yes. You will receive a refund proportionally equal to the period left in the BID year (1st April – 31st March) following final transfer of your Business premises to another party.
Q: What happens if my rateable value reduces because of an appeal I have made?
A: Reductions in rateable value will be taken into full consideration when calculating the levy for future years. We will look to refund and over payments
Q: My property is empty. Do I still have to pay the BID levy?
A: Yes. The BID levy is payable on all eligible properties within the BID area whether they are occupied or empty.
Q: What should I do if I can’t pay?
A: If you have genuine financial difficulty and are unable to pay then you should contact London Borough of Bexley straight away. Never ignore requests for payment as this will only make the situation worse.
Q: What happens to the levy money that is collected?
A: We anticipate that the BID will generate an annual income of £167,000 based on a 97% collection rate being achieved and that this will be supplemented by additional voluntary, cash and in-kind contributions amounting to in excess of £10,000 per annum. Based on the feedback received through our consultations and research the below chart illustrates how the funds will be apportioned against projects during year 1. Thereafter, the Board will agree on an annual basis how funds for subsequent years will be allocated, reflecting the views of levy payers expressed through our annual survey and experience gained during the operation of the Sidcup BID in year 1.
Q: How long will the BID be in action for?
A: The Sidcup BID will exist for a minimum of 5 years after which businesses will vote again to decide whether it will continue. The Sidcup BID will run from 1st April 2017 31st March 2022.
Q: How do I contact my BID team?
A: Email: email@example.com Phone: 0208 302 4970 C/O Your Move 1 Elm Parade Main Road Sidcup Kent DA14 6NF