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 2023 – 31st March 2024 is calculated as 0.94% 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 £1,548,000

Other £26,000

Total £1,574,000

Match Funding £1,052,500

Reserves £800,000

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

187,000

196,000

30,000

230,000

100,000

313,000

271,000

200,000

1,527,000

Figures as of February 2023 - non audited. All amounts in £GBP.

Click here for the annual billing summary sent to levy payers in March 2023.

Click here for annual accounts summary.

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