Businesses on the valuation roll liable for business rates for properties with a rateable value of £25,000 or over are liable to pay the levy.
Who pays the Essential Edinburgh BID levy?
All eligible non-domestic properties with a rateable valuation of £25,000 or more within the BID are liable for the full 1% levy for the duration of the five-year term including properties of the local authority, other statutory agencies or non-statutory bodies and charities.
Properties with a rateable value under £25,000, alongside Places of Worship, are exempt from the levy.
Properties located within a managed shopping centre are eligible for 0.5% levy for the duration of the BID term.
The levy payments are not linked to what businesses actually pay in rates but are based on the rateable value of the property.
The City of Edinburgh Council collects the levy on our behalf ensuring complete transparency, security of money collected and auditable collection procedures. The BID Revenue Account and levy can only be accessed by Essential Edinburgh.
Payment must be made within 14 days from the date the levy invoice is issued and in one instalment. Any non-payment of the levy will be strongly pursued and statutory powers will be enforced to ensure fairness to those levy payers that have paid.
There will be no levy relief for empty buildings. If the property is empty on the date of issue of the levy or at any time during the BID term, the property owner will be liable for the full levy amount until the property has a new occupier who will then be liable for the levy.
If the occupier vacates a property, rebates for the outstanding unoccupied period will be given.
If there is a successful appeal of the 2017 Non-Domestic Rates Revaluation, resulting in a reduced rateable value, the levy will be reduced to reflect this. The changes will not take effect until the following year and will not be backdated. If there is an upward valuation at appeal there will be no change to reflect this.
Should the Assessors revalue properties during the BID term, the levy will remain at the rate calculated on 24th May 2018 (the day of ballot) until the BID term ends in 2023.
Any additional rateable property formed/created, subdivided or merged during the lifetime of the BID will be liable to pay the levy e.g. new building developments, alterations to use, (church property becoming commercial) etc.
Self-catering holiday accommodation which is not the sole or main residence of any person and which is available (or intended to be available) for letting on a commercial basis, with profit in mind, for short periods in the financial year and remain liable for non-domestic rates for the whole year will be subject to the levy.