Every five years the London Bridge business community vote on whether to continue the BID model. In 2015, 89% of our members voted yes, meaning our current term ends in 2021. 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.
How it works
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 £10,000 or more. Collection of the levy is enforced under the same rules and processes as business rates collection. The Levy equation for 18/19 is 1.17% of 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.
Funding and Expenditure
Levy Income - £ 1,428,000
London Bridge Hive
Security and Safety
Total Investment in London Bridge
Figures as of February 2018. All amounts in £GBP.