Winchester BID collects an annual levy of 1.5% from non-domestic ratepayers within the BID area, with a rateable value of over £1,250 each year. There are exceptions to this with varying levy rates for charities, charity shops and managed shopping centres. For further details, view Appendix 1 – The Levy Collection Rules here.
Winchester City Council is required to collect and recover the levy based on the rules for Non-Domestic Rates and will make a charge for the cost of collecting the levy. The legislation that covers this collection is The Business Improvement Districts (England) Regulations 2004 Act, which is available to view here.
The levy is based on the Non-Domestic Rating List as at the 1 February in the year of the collection of the levy. The levy is invoiced in March and includes a breakdown of income and expenditure for the forthcoming year and a comparison with the previous year.