Every five years the London Bridge business community vote on whether to continue the BID model. In February 2021, 95% of our members voted yes, meaning a 4th BID term will run between 2021-2026. To fund the work of Team London Bridge, each business within the BID area must pay a compulsory contribution, referred to as the BID levy.
2021 BID Ballot Result
How it works
95% by number
97% by rateable value
52% turnout by number
Payment of the BID levy is compulsory for all businesses within the boundary of the London Bridge (BID) area that occupy premises with a rateable value of £20,000 or more. Collection of the levy is enforced under the same rules and processes as business rates collection. The Levy for 1st April 2024 – 31st March 2025 is calculated as 0.96% of the rateable value.
Team London Bridge is not responsible for the collection of the levy as this is done on our behalf by Southwark Council. Any queries regarding the following should be taken up with Southwark Council directly.
Our rules around BID Levy charging for the BID term 2021-26, payments and exemptions are available here in our 2021-26 Business Plan.
If you would like further information on the BID levy rules or information on the AGM and other regular meetings please contact sofia@teamlondonbridge.co.uk
Funding and Expenditure
2022/23
Total Levy Income £1,410,000
Other £100,000
Total £1,510,000
Match Funding £523,883
Reserves £780,000
Safety and Security
Arts and Culture
Networking and Outreach
Placeshaping
Responsible Business
Environment
Place Promotion
Core Costs / Community Space / Office
Total Investment in London Bridge
£181,000
£156,000
£60,000
£245,000
£179,640
£276,000
£303,000
£176,000
£1,576,640
Figures as of February 2024 - non audited. All amounts in £GBP.
Click here for the annual billing summary sent to levy payers in March 2024.
Click here for annual accounts summary.
Learn more about our services
Standard Procurement Terms & Conditions
Further Information
For more information on exemptions, how to pay the levy, reminder notices, refunds and empty property relief, please contact our Sofia here.
For the Company Memorandum and Articles of Association click here.
What We Do
Meet the Team
The BID Area
Services