Business Improvement Districts are business led partnerships which are created through a ballot process to deliver additional services to local businesses.
The Business Improvement District levy is charged on all businesses within the Business Improvement District area (regardless of whether or how that business voted in the ballot). In July 2022 the Council announced the outcome of a ballot in the Uxbridge commercial centre where it was agreed to implement second term of the Uxbridge Business Improvement District from 1 October 2022.
All businesses within the BID Zone on 1 October will be subject to the full years levy chargeable for the period 1 October to 30 September. First payable in October 2022, and then annually each October (until 30 September 2027).
The levy rate to be paid by each property or hereditament is to be calculated at 1.25% of its rateable value as at the 'chargeable day' (notionally 1 October each year).
Only properties or hereditaments with a rateable value of £15,000 or more will be liable for the levy.
No single hereditament will be charged a levy exceeding £15,000.
The number of properties or hereditaments liable for the levy is estimated at 407.
The levy rate will be increased by a rate in line with market forces annually.
The levy will be charged annually in full for each chargeable period to be October to September each year, first payable in October 2022, and then annually each October (until 30 September 2027). No refunds will be available on the levy charged. The levy must be paid in one payment.
The owners of untenanted properties or hereditaments will be liable for payment of the levy.
Occupiers within managed shopping centres that are subject to a service charge for management and marketing services will pay 75% of the levy that would otherwise apply.
Charitable organisations that are subject to relief on their business rates liability will be exempt.
If, during the term, the rateable value assigned to a property or hereditament falls below £15,000 for whatever reason (either through physical change, change of use, or revaluation) the property or hereditament will be exempt from the next chargeable period.
If, during the term, a property or hereditament with a rateable value which had previously been below the £15,000 threshold is assigned a new rateable value which is above £15,000, the property will not be liable for the levy unless the increase results from a change of use or physical change, as previously described.
Revaluation will be defined as the rateable value within the current ratings list on the day prior to the revaluation.