How Successful Sutton BID is funded
Businesses within the defined BID area with a rateable value above £10,000 contribute through a mandatory 1.05% levy on their business rates. Businesses below that threshold can pay a voluntary annual levy of £100.
The BID levy is collected annually by Sutton Council and passed to the Successful Sutton BID for projects and services set out in our BID proposal. BID levy money is ring-fenced for use only in the BID area.
The BID Board agrees our annual budget (set against the priorities in our business plan). Levy funds are supplemented each year with additional income secured through sponsorship and by delivering contracts for LB Sutton. Levy payers are actively encouraged to give us feedback on our spending priorities and suggestions for new activities or events.
Our accounts are independently audited each year by (Sutton-based) Clarkson Hyde LLP and available to download below:
If you are a Successful Sutton BID Levy payer and you have any questions or queries relating to the financial data above, please do not hesitate to contact Patricia Park on 020 8643 9304. Please note that if your communication is regarding a query of an invoice you have received for the Levy, please contact Sutton Council Accounts Department.