{"id":15315,"date":"2023-09-07T11:34:35","date_gmt":"2023-09-07T11:34:35","guid":{"rendered":"http:\/\/clients.tomorrowadvertising.com\/positivelyputney\/?page_id=15315"},"modified":"2023-09-28T00:41:15","modified_gmt":"2023-09-28T00:41:15","slug":"bid-governance","status":"publish","type":"page","link":"https:\/\/clients.tomorrowadvertising.com\/positivelyputney\/bid-governance\/","title":{"rendered":"BID Governance"},"content":{"rendered":"\n
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BID Governance<\/strong><\/h1>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n
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BID Levy Rules<\/strong><\/h3>\n\n\n\n
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  1. The levy rate will be charged at 1.25% (or 1% for managed shopping centre tenants \u2013 Putney Exchange, and non-retail charities) of the rateable value as at 1st April 2022 based on the 2017 rating list. <\/li>\n\n\n\n
  2. All new hereditaments entering the rating list after this date will be charged on the prevailing values. <\/li>\n\n\n\n
  3. The levy will be charged annually in advance on 1st April 2022 and no refunds will be given. <\/li>\n\n\n\n
  4. For each subsequent chargeable year, the levy will be charged as at 1st April based on the 2017 rating list values at that time. <\/li>\n\n\n\n
  5. The levy will be applied to all hereditaments with a rateable value of \u00a312,000 or more. <\/li>\n\n\n\n
  6. The number of hereditaments for the levy is estimated at 400.<\/li>\n\n\n\n
  7. The BID Board will decide whether to apply an annual increase to the levy, taking account of inflation and economic conditions. The maximum figure would be 0.02%, ie: increasing the levy from 1.25% to 1.27% and so on. <\/li>\n\n\n\n
  8. The owners on untenanted hereditaments will be liable for payment of the levy with no void period.  <\/li>\n\n\n\n
  9. Wandsworth Council, or its appointed agent, will be responsible for collection of the levy on behalf of the BID. To contact Wandsworth Council about your levy bill payment email putneybidpayments@richmondandwandsworth.gov.uk<\/a><\/li>\n\n\n\n
  10. VAT will not be charged on the BID levy.<\/li>\n\n\n\n
  11. The term of the BID will be five years from 1st April 2022 to 31st March 2027. <\/li>\n<\/ol>\n<\/div><\/div>\n\n\n\n
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    BID Governance<\/h3>\n\n\n\n