York BID Business Plan 2021-2026

THE BID LEVY & FINANCES
1. The levy rate to be paid by each property
or hereditament will be fixed at 1% of its
rateable value (as per the 2017 Rating List)
for the duration of the BID term. The rate
remains unchanged from the previous term.
2. Under the Local Government Act 2003 and
the Business Improvement District Regulations
(England) 2004, the levy is mandatory by law
for the full period of the term (not exceeding 5
years) and will be charged annually in advance
for each chargeable period from April to
March (starting on 1 st April 2021).
3. The BID levy will apply to all eligible
hereditaments located within the defined
BID area and with a rateable value of over
£17,500 (as per the 2017 Rating List). The
threshold has changed from £12,500 in the
previous term.
4. Businesses in the BID area who are exempt
from the levy charge due to their rateable
value can apply to become a voluntary
levy payer. Details of this scheme will be
announced on the launch of the new term.
5. Liability for the full year’s levy falls upon the
Non-Domestic Ratepayer for the property
on the date of billing (typically the first week
of April). If the property is empty on the date
of billing, then liability shall fall upon the
property owner.
6. No refunds will be made either fully, or
in part, in respect of levy amounts paid
should there be a change in Non-Domestic
Ratepayer during the financial year. Neither
the BID Company nor the Council will
enter into negotiations between outgoing
and incoming levy payers, and all said
negotiations to recoup part-year payments
must be resolved independently by the
individual or company concerned.
7. Non-retail/leisure based businesses with
charitable status will pay 50% of the levy
that would otherwise apply. Medical
practices that are wholly owned by the NHS
will be made exempt from any levy charge.
8. Please note, no exemption or discounts will
be issued to listed buildings and those who
pay discounted business rates are not entitled
to a levy discount as well.
In light of recent events, a
cautious approach has been
adopted to providing the
indicative budget for the
renewed BID term. The table to
the right outlines how income
will be allocated across the
four programme areas.
30 | The BID Levy and Finances