*Rateable business unit
Working Out Your Bid Levy
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:
|Typical rateable value||Annual BID levy|
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.