Levy Rules & Regulations

The formation of a BID is enabled by Government legislation and regulation.
Following a successful ballot, the Croydon BID levy becomes mandatory for all the defined businesses or occupiers in the BID area.

About Croydon BID Levy:

The BID levy is a mandatory charge, enforceable in the same way as non-domestic rates, following a successful ballot.

  • The BID levy is the principal source of income for Croydon BID.
  • The term of the BID will be 1st April 2022 to 31st March 2027.
  • The levy will be set at 1% of the relevant rateable value of each hereditament* within the BID area valued at £40,000 or more.
  • There are no exemptions or discounts to the levy for charitable status, mandatory rate relief or businesses paying other service charges.
  • Currently the number of businesses within the BID area is 550, who will be eligible for the vote and to pay the levy.
  • All premises with a rateable value of less than £40,000 within the BID area will be exempt from paying the levy and therefore will not be eligible to vote in the ballot.
  • The levy will be due on 1st April each year and will be payable in full in one single instalment.
  • There will be no refund if the BID levy payer vacates the premises during the year, therefore steps should be taken where appropriate to apportion liability with incoming tenants, landlords or freeholders.
  • Hereditaments will be charged as at 1st April 2022 rating list. Where new properties come into the ratings list, or mergers or splits occur, the hereditament will be charged as per the current ratings list at that time.
  • Where a property is empty, the levy liability will transfer to the eligible ratepayer which may be the property owner.
  • Before the end of the five year term Croydon BID Board may seek renewal of the BID for a further five year term, through a renewal ballot.

*Rateable business unit

The Croydon BID Area

The Croydon Town Centre BID area spans from West Croydon station in the north, taking in Cherry Orchard Road and Number 1 Croydon in the east, Park Lane and Coombe Road in the south and Charles Street and Church Street to the west. 

Croydon BID has 494 levy paying business members. 

The map shows the boundary line of Croydon BID’s geographical area. 

map-temp

Collection of the BID levy:

Arrangements for the collection of the BID levy are set out in a formal Operating Agreement between Croydon BID and Croydon Council (for details visit www.croydonbid.com). These arrangements are governed and administered within the guidelines set out in the BID (England) Regulations 2004.

Croydon Council will be responsible for collecting the BID levy on behalf of Croydon BID. The levy will be collected in one instalment due on 1st April each year and held in a separate account solely for Croydon BID.  Enforcement measures for collection of the BID levy are detailed in the Operating Agreement between Croydon BID and Croydon Council. 

BID Levy Rates

To calculate the amount of levy payable, simply multiply by 0.01, the rateable value of the business unit based on its rateable value as at 1st April each year. For example:

BID Levy Rates