Brixton BID Introduces Discounted Levy in Response to Increase in Business Rates

In order to support its members, the Brixton BID Management Board and Executive Team is pleased to inform our members that it will be introducing a 15% discretionary relief, which means a discounted levy from April 2017 until the end of the first term. The discount will be automatically applied to members’ bills until December 2018.

The Management Board has also agreed to increase the original threshold of £5,000 to £8,000 in line with the average Rateable Value increase of all properties within the BID area.

In February 2017, Brixton BID joined a collective of London BIDs, business organisations and local authorities who signed a letter to the Chancellor of the Exchequer demanding the Government deliver short-term measures to mitigate the impact of this rise.

The lobbying from the business sector has recently produced some results as per the announcements in the 2017 Budget. New measures announced in the Budget include the introduction of a rate relief for 90% of pubs with increases capped at £50 per month and a £300m fund for local authorities to offer a discretionary relief to the worst-hit businesses.

Elly Foster and Laverne Walker, co-chairs of the Brixton BID Board added, “We are pleased to inform local businesses about the introduction of the discount on the BID levy as well as the increased threshold. The Brixton BID is committed to supporting small businesses and we agreed to apply these measures to mitigate the effects of the recent revaluation of the Rateable Values due to come into effect from 1st April 2017.”

You can also find our Annual Report here.

For enquiries, please contact the Brixton BID team on 020 3417 7373 or email admin@brixtonbid.co.uk

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