The BID was renewed for the the third time on the 1st of April 2019 and the 5 year term will end March 31st 2024. With your support we intend to extend this again to 2029.
All businesses inside the defined BID area are required to pay the BID levy which is separated into bands based on the rateable value of the business. The exact figure payable for each band is listed in the table below.
The Levy is collected annually by the London Borough of Sutton on behalf of KIPPA and is due on the 1st of April each year. The Bid Levy will be increased by 2% per Annum as stated in the terms of the BID agreement.
The Levy can be split into staggered payments via Direct Debit however these must be arranged through the London Borough of Sutton directly. The London Borough of Sutton are authorised under the terms of the BID to take legal action in the event of non-payment.
Table of Bid Levy Payments Due 1st of April 2021
|Band||Rateable Value||Annual Payment|
|A||Up to £20,000||£368|
Business improvement districts such as KIPPA BID LTD are legally obligated to renew every 5 years. The current bid term runs from the 1st of April 2019 to the 31st of March 2024.
BID3 Renewal 2019-2024
As of the 1st of April 2019 KIPPA BID LTD successfully secured it’s third term, as a result of a 98% vote in favour of renewal.
Thanks to the support of our members Kimpton is safer continues to expand. We will continue our commitment to keeping kimpton safe and making further improvements to the the industrial park.
For more detailed information, including a breakdown of our budget, please see the documentation below.