If your business is located in our area and the rateable value of your property is over £14,000 then you automatically become a WeAreWaterloo BID member and you will be liable to pay the levy.
The amount you’ll pay is based on the rateable value of your property. The levy is 1.6% of a business’ rateable value for properties over the threshold of £14,000.
Yes, charities receive a discount of 50% on their BID levy and this is applied automatically.
The Council collects the levy on our behalf. The payment details are on the back of the billing letters. If you have any questions or want to check payment details, you can contact the relevant Council using the following contact details.
Lambeth – businessrates@lambeth.gov.uk
Southwark – BIDs@southwark.gov.uk
There are different processes for requesting BID levy invoices depending on which Council you are located in.
Lambeth – paper invoices can be mailed out when a request is sent to businessrates@lambeth.gov.uk
Southwark – digital BID levy invoices can be accessed through MySouthwark by registering at www.southwark.gov.uk/mysouthwark
If you are struggling to pay the levy, we can offer payment terms to split your payments into quarterly instalments between now and the end of the financial year. Contact your relevant Council to set up this arrangement and copy in info@wearewaterloo.co.uk
The BID levy is a separate cost that isn’t included in business rates or council tax because the BID levy is used to provide extra services, on top of what the local council provides. The levy is used for services only in Waterloo, so your business and the local neighbourhood directly benefit from the investment.
No. The BID is legally binding on the non-domestic ratepayers in the Business Improvement District area. Every five years, BID Members have the opportunity to vote on whether they want WeAreWaterloo to continue. This ensures our programme of projects and services remains relevant to the local businesses. In February 2025, businesses in Waterloo overwhelmingly voted for another five year term, with 93% in favour.
This will change every year as new developments are occupied. You can see the latest details of our revenue and plans in our reports.
No. By law the services provided under the Business Improvement District must be additional services not already provided by us or enhancements to existing services.
The BID levy is a charge payable by law and not a payment for services received. We use the BID levy to invest in the area, creating a stronger business community. There are lots of ways you can benefit from our services both directly and indirectly, so please get in touch with our team by emailing info@wearewaterloo.co.uk to find out more.
Yes, unless the property has been taken out of ratings by the Valuation Office Agency you will be liable for the BID levy.
If your lease on a property in Waterloo ends part way through the financial year then your levy bill will be pro-rated for the time you are liable for the levy. Please contact the Council using the contact details above to let them know you’ve ended your lease and they will issue a revised invoice.
