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Governance

BID Rules

The income to be derived through the BID levy will be based upon a set of detailed levy rules as follows:

  • The term of the BID will be for a period of five years from 1 October 2014 to 30 September 2019.
  • The BID levy will be applied to rated properties in the BID area with a rateable value of £50,000 or more.
  • Except as specified below the levy will be a fixed rate of 1% of rateable value as at 1 April 2014 using the 2010 list for all eligible levy payers.
  • A cap of £20,000 will be applied to each individual hereditament and a cap of £30,000 will be applied in the case of any single company with more than one hereditament.
  • New hereditaments will be charged based on the rateable value at the point of occupation.
  • Hereditaments within Waterloo Station (defined as the premises within the South Bank BID area owned by Network Rail and London & Continental Railways and subject to and benefitting from their service charges) will be subject to a reduced levy of 0.5% of rateable value. The proceeds of this element of the BID levy will be shared with and applied in close collaboration with Waterloo Quarter BID.
  • Charitable organisations in receipt of mandatory charitable relief from business rates will receive 80% allowance.
  • Empty properties will be liable for the BID levy via the ratepayer with no void period. Listed properties exempt.
  • The BID levy will be subject to an increase for inflation of 3% to be applied on 1 April 2016 and 1 April of each subsequent year.
  • There will be no VAT charged on the BID levy.
  • The BID levy will not be increased other than as specified in the levy rules.
  • The BID levy rules cannot be altered without an alteration ballot.

BID Documents

List of voters

25.05.2015 (84.11 KB)

South Bank BID Draft Baseline Agreement: Lambeth

22.04.2015 (70.86 KB)

South Bank BID / SBEG Service Level Agreement

20.05.2014 (247.17 KB)

South Bank BID Proposal

The South Bank BID proposal has been sent to all businesses in the proposed South Bank BID area and sets out in detail the services the BID will deliver.

30.04.2014 (4.05 MB)

South Bank BID Articles of Association

This document sets out the governance arrangements which regulate the South Bank BID company.

30.04.2014 (336.32 KB)

South Bank BID Draft Operating Agreement: Southwark

This documents sets out arrangements for levy collection, enforcement, refunds and monitoring between South Bank BID and Southwark Council.

29.04.2014 (179.91 KB)

South Bank BID Draft Operating Agreement: Lambeth

This agreement sets out the arrangements for levy collection, enforcement, refunds and monitoring on the part of the South Bank BID and Lambeth Council.

29.04.2014 (161.21 KB)

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