Levy bills are issued to businesses within the BID area in February of each year.
The money raised from the levy is ring-fenced for use in the BID area only to pay for the initiatives outlined in the business plan, which was written alongside business stakeholders ahead of the ballot vote. They are:
Safety
Delivering a coordinated approach to ensure Peterborough offers a well-managed, welcoming and safe city centre.
Events
Creating a memorable experience for all city centre users.
Marketing
Providing a marketing strategy that promotes the city to attract shoppers, tourists and business investment opportunities.
Community
Building a business community within the city centre, improving communication between businesses as well as with the city council and stakeholders.
The BID is about additionality. It does not replace any local authority or any other existing services.
What is the BID levy?
The BID levy is owed to Peterborough City Council and is payable by all liable businesses within the BID area which have a rateable value (RV) of £15,000 and above.
What do I get for my money?
The BID will deliver a range of initiatives as outlined in the business plan which was compiled after extensive consultation with businesses within the BID levy area.
The BID’s initiatives are provided independently and do not replace any council services.
Your levy is combined with funds from over 400 other businesses, resulting in anticipated funds of over £2 million to be invested in the city centre over the next 5-years.
How is the bill estimated?
The levy bills are calculated as a percentage of the RV of the hereditament (business premises). The headline amount payable is 1.5% of the RV, reduced for occupiers within covered shopping and leisure centres for whom additional service charges already apply.
How do I pay?
Peterborough City Council is responsible for sending out the bills and collecting the payments. Please visit www.peterborough.gov.uk/business/business-improvement-district for further information.
Do I have to pay?
Yes, if your business and its premises are liable, the levy is a statutory payment.
Can I pay the bill in instalments?
No, the levy is a one-off, annual payment.
I'm a tenant, surely the landlord should pay this?
The BID levy is payable by the ratepayer. If the ratepayer is the tenant, it is their business that will benefit from the initiatives and activities that the money is used for. In some instances (e.g., vacant and untenanted properties) the ratepayer will be the owner.
I didn't vote for this; why should I pay?
Those nominated as the voter on behalf of all liable premises within the BID area were asked to vote in a ballot in October 2021. Prior to this, consultation events were held and door-to-door visits were made to businesses before and during the ballot period.
A ballot result of 84% in support meant that all businesses within the BID levy area were liable for the levy, not just those who voted for it.
I moved out of my business premises after 1st April; do I still need to pay?
Yes, the rules state that it is the ratepayer as of 1st April each year that is liable.
Shouldn’t this be included in my business rates?
No, business rates are separate and do not relate to the BID or its activities. Furthermore, the BID’s planned initiatives, as outlined in its 5-year business plan, are provided independently and are over and above Peterborough City Council’s services, which the BID is not replacing.
The business is in liquidation, administration or receivership - what should I do?
Depending upon who the ratepayer was on 1st April, the liquidator/administrator/receiver may be responsible for the levy. If that is the case, you should refer the matter to them.
What will happen if I don’t pay?
Under legislation, the debt will be referred to the courts and enforcement action with extra costs is likely to follow.
Who should I speak to if I can’t or won’t pay the bill?
Anything relating to BID levy bills must be referred to Peterborough City Council who can be contacted on 01733 452 252 or at bidenquiries@peterborough.gov.uk
How do I find out more about the BID?
For more information about the BID please email contact@peterboroughpositive.co.uk