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 19/20 is 1.19% 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 -  £ 1,450,000

Other Income -  £ 25,000

Total Income -  £ 1,475,000

Match Funding - £596,000


London Bridge Hive 

Culture and Events

Place Promotion

Responsible Business

Security and Safety

Placeshaping

Core Costs

Total Investment in London Bridge

10,000

212,000

277,000

183,000

129,000

220,000

226,000

1,286,264

Figures as of February 2019. All amounts in £GBP.

 Learn more about our services here. 

 

Further Information

For more information on exemptions, how to pay the levy, reminder notices, refunds and empty property relief, please contact our Business and Operations Manager here.

 

What We Do

Meet the Team

The BID Area

Services