Weymouth BID on TwitterWeymouth BID on FacebookWE Support
09 September 2017

Weymouth BID Levy Queries 2017-2018

Invoices for the 2017/2018 Weymouth BID Levy will be delivered on 8th September

Payment of the levy should be made to Weymouth & Portland Council and any queries on payment should contact the number provided on the invoice for payments.

Any other queries can be directed to the BID Office.

When making any enquiry either to Weymouth & Portland Borough Council or Weymouth BID to help save time please have the invoice number, account number and business name available.

www.weymouthbid.co.uk/go.to/The+Levy

For information the levy is payable by the business or person who is liable for the business rates of the premises on 1st September each year. This is based on information held by Weymouth & Portland Borough Council rates department and not information held by Weymouth BID Ltd.

Changes to Year 5 BID Levy Invoices 2017/2018 following Rateable Value Changes

The BID Levy invoices for Year 5 are due out on 8th September 2017.

The Valuation Office (VOA) have adjusted the Business Rataeble Values as at 1st April 2017 and this may affect your Levy Fee for 2017/2018.

The Levy Fee is based on the Rateable Value (RV) of a Property and is charged at 1.5% of the RV.

How may this affect me?

As consequence of changes to the Rateable Values this will affect business in the BID area with some no longer paying a levy if their rates have gone down below £6000 but also other businesses whose rates will have risen above £6000 will now have a levy fee for this year.

Why has this happened?

The VOA adjusted Rateable Values as at 1st April 2017. In normal circumstances this happens every 5 years.

At revaluation, the VOA adjusts the rateable value of the business properties to reflect changes in the property market.

The most recent revaluation which came into effect in England and Wales on 1st April 2017 was based on rateable values from 1st April 2015.

Where can I find more information on Rateable Values?

The Valuations office has information and this is the link.

How can I find out what my Rateable Value is?

Use this link to find your RV.

I have not paid the Levy before what is the BID?

This is the link to the page of the BID website with information about what a BID is and what it does.

How can the BID help my Business

This is the link to the page of the BID website to explain all that you as a business can benefit from by being part of the BID.

FAQs

These questions refer to selling, re-letting, closing or change of use of premises and businesses liable to the levy.

If you require further information or have a query please contact the BID Office

I am a Landlord and the premises is empty am I still liable?

Yes

The business plan refers to empty premises, those undergoing refurbishment and being demolished as being liable (page 31).

www.weymouthbid.co.uk/fcimages/files/Weymouth%20BID%20Business%20Plan.pdf

Some businesses premises do not pay business rates on empty premises often as they are listed buildings. The BID levy is not part of this arrangement and remains a charge on the premises

I have planning permission to change the use of the premises from a business premises?

In most cases in the past this has been planning permission to convert to residential. If this is the case then a copy of the agreed planning application would be required.

This would be required each year a levy is raised and would take into account progress on the works required.

I am closing my business

The levy is the liability of the person who is listed as the business rate payer at 1st September each year. A business that closes is still liable for the annual levy.

Please see next question which relates to selling the business on and the levy.

What happens as a Landlord/ Business if I let or sale the premises/business during the year?

If a business or premises is let or sold during the year then you should ensure that any contract transaction includes a payment of the levy pro rata of the start and end date. (1st September - 31st August

Please note it is not a legal requirement to charge an incoming business part payment of the levy but is suggested as good practice.

A Solicitor or Commercial Agent may not include any reference to a bid levy and therefore it is advised that you discuss this with them on a payment as part of the contract.

 

© Copyright Weymouth BID Ltd

Website design and development by Resort Marketing

By using this site, you agree we can set and use cookies. For more details of these cookies and how to disable them, see our privacy policy and cookie usage page.