Governance

The St James’s Business Improvement District will be established as a not-for-profit company, limited by guarantee. It will be governed by a board of representatives from across the St James’s business community and will be managed by the Heart of London Business Alliance. 

It will be funded by and consist of occupiers (non-domestic rate payers) and property owners in the district.  

The BID rules provide the basis for calculating the BID levy and identifying voter eligibility. They have been presented separately for occupiers and property owners because some of the detail varies. 

BID rules 

Occupier

Persons eligible to vote in the ballot will be the non-domestic ratepayer listed on the Council’s database for each hereditament (business premise) situated in the geographical area of the proposed BID.

• The BID term will be 5 years, from 1 April 2025 to 31 March 2030
• The BID levy will apply to office, retail, leisure, hotel, car parks and advertising uses (as defined in the Operating Agreement) 
• The BID levy will be applied to rated properties with a rateable value of £225,000 or more  
• The BID levy will be a fixed rate of 1.35% of rateable value as of 1 April 2025 using the 2023 business rating list, rising annually by 0.03 percentage points (i.e. 1.38% in year 2, 1.41% in year 3, 1.45% in year 4, 1.48% in year 5)
• A levy payer will not be liable to pay more than £50,000 on any hereditament in each BID in any financial year (1 April-31 March)
• Where the rateable value for individual hereditaments (rated properties) changes and results in a lower BID levy, it will only come into effect from the start of the fiscal year in which the change is made
• Charitable organisations in receipt of mandatory charitable relief from rates will receive an 80% allowance
• The BID levy will not be increased other than as specified in these levy rules
• There will be no VAT charged on the BID levy
• The BID levy is to be paid in full within 14 days of receipt of invoice
• The liability for the daily BID levy will fall on the eligible ratepayer.

BID rules 

Property Owner

The liability for the BRS-BID (Business Rate Supplement - Business Improvement District) levy will fall upon the owner of a leasehold interest granted for a term of 75 years or more or, in the absence of a relevant lessee, the freeholder as identified from the records held on His Majesty’s Land Registry. This rule applies on the total term length of the lease.

• The BRS-BID term will be 5 years, from 1 April 2025 to 31 March 2030
• The BRS-BID levy will apply to office, retail, leisure, hotel, car parks and advertising uses (as defined in the Operating Agreement)
• The BRS-BID levy will be applied to rated properties with a rateable value of £225,000 or more
• The BRS-BID levy will be a fixed rate of 1.5% of rateable value as of 1 April 2025 using the 2023 business rating list, rising annually by 0.03 percentage points (i.e. 1.53% in year 2, 1.56% in year 3, 1.59% in year 4, 1.62% in year 5)
• A levy payer will not be liable to pay more than £50,000 on any hereditament in each BID in any financial year (1 April-31 March)
• Where the rateable value for individual hereditaments (rated properties) changes and results in a lower BRS-BID levy, it will only come into effect from the start of the financial year in which the change is made
• Charitable incorporated organisations (UK-registered charities) that are eligible owners will receive 80% reduction on the BRS-BID levy
• Any exemptions for vacant listed properties in the ratepayer BID do not apply to the BRS-BID
• Organisations liable for BRS-BID levy that are also the ratepayer for the property will be liable for both the BRS-BID levy and the ratepayer BID levy in full. No discount or relief is applicable
• The BRS-BID levy will not be increased other than as specified in these levy rules
• There will be no VAT charged on the BRS-BID levy
• The BRS-BID levy is to be paid in full within 14 days of receipt of invoice
• The liability for the daily BRS-BID levy will fall on the eligible property owner (see owner definition).