andrewmaclachlan
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ALCS tax
Hi there I'm a academic at a UK institution and a higher rate tax payer. All of my income is taxed at source except for three minor sources: In the tax year 23/24 1. In I received a payment of £79.66 from the AUTHORS' LICENSING AND COLLECTING SOCIETY for re-use of my published work 2. I received around £150 from loaning out equipment on a peer to peer website 3. I received just over £500 in bank interest. For point 2 I am under the £1,000 trading allowance so don't need to declare this. For point 3 HMRC should change my tax code automatically. However, for point 1 I assume this means I now must complete a self assessment tax return to declare this as income and as such also declare income from points 2 and 3. Is there a specific section where I need to declare this on the form. Thanks