BIDs

What is a BID levy?

A Business Improvement District is a defined area in which a levy is charged on all business rate payers in addition to the business rates bill. This levy is used to develop projects which will benefit businesses in the local area.

There is no limit on what projects or services can be provided through a Business Improvement District. The only requirement is that it should be something that is in addition to services provided by local authorities. Improvements may include, but are not limited to, extra safety/security, cleansing and environmental measures.

Are there any BIDs in Milton Keynes?

Milton Keynes currently has one BID levy for properties within Central Milton Keynes. The BID is managed by MyMiltonKeynes https://www.mymiltonkeynes.co.uk/

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The area covered by the BID

Area of MK covered by the BID

Do I need to pay the BID levy?

If the levy has been successful at ballot, and you have received a bill you are liable to pay the levy whether you voted for it or not. The new BID will commence delivery of services on 1 June 2022 and will continue for a period of five calendar years to 31 May 2027.

To make a payment please visit our payments page, select ‘BIDS’ and follow the instructions. Please be aware Milton Keynes Council does not accept credit cards for payments.

What are the rules of the levy?

  • All non-domestic properties or hereditaments with a rateable value of £50,000 or more will be required to pay the levy.
  • From June 2022, the levy rate to be paid by each property or hereditament will be 1.25% of its rateable value as at the selected ‘chargeable day’ (1 June annually).
  • Tenants within centre:mk, Midsummer Place, 12th Street, The Hub and Xscape will be charged a discounted rate of 1%. A small number of businesses with a rateable value of greater than £2,000,000 will have their levy charge capped at £20,000.
  • From 2023 onwards, the levy rate (1.25%) will be increased by the fixed rate of inflation of 3% per annum.
  • The levy will be charged annually in advance for each chargeable period to be June to May each year, starting in 2022. Should the ratepayer change during the course of the year the charge is not apportioned, as such no refunds will be made.
  • The owners of untenanted properties or hereditaments will be liable for payment of the levy.
  • Charitable organisations that are subject to relief on their business rates liability will not pay the levy that would otherwise apply.

How is my levy being spent?

If you have any questions in regard to the management of the BID, or how the levy is spent please contact the BID company directly;

MyMiltonKeynes

Suite 301, Midsummer Place, 417 Saxon Gate East, Milton Keynes MK9 3GB 

01908 395 099

info@mymiltonkeynes.co.uk

 

Business Rates

Business Rates contact information

  • 01908 253794 - 9am-5pm Monday, Tuesday, Thursday and Friday (excluding Bank Holidays). Wednesday 10am to 5pm.

Revenues Service, PO Box 5327, Civic, 1 Saxon Gate East, Milton Keynes MK9 3EJ