Commission/deductions and tax
ALCS’ commission
ALCS charges a commission on all money it pays out to its Members. This commission is kept to a minimum at all times and is used to run the company.
The current commission rate for Members is 9.75%
For more details on how the commission rate is set, please refer to the Members' area.
Tax implications:
For tax purposes, commission is a deduction against the income that you have received from us and, if you are subject to UK tax, they should be claimed as a deduction against the income that you report on your tax return. If you are a self-employed individual these charges will be included, in the normal course of events, as an expense against your business income.
If you are not in business then the net figure should be reported on your Return.
If you are in any doubt about this you should contact your accountant or other advisor as appropriate. Due to the complex nature of taxation, ALCS is not authorised to provide individual information or advice.
Other deductions
ALCS collects money from a variety of sources both in the UK and overseas. These sources may be subject to deductions according to the terms of the relevant licensing scheme. Further details are available in the Members' area.
Tax implications:
If you fill in a UK tax return it may be possible to reclaim some or all of this tax incurred usually by claiming the credit for the foreign tax against your UK tax bill. To do this you will need to contact the Inland Revenue.
Withholding tax
If you live overseas and are exempt from UK tax you will need to ask HMRC to forward to ALCS a copy of your exemption certificate.
HMRC can be contacted at:
Inland Revenue Centre for Non-Residents
Fitzroy House
PO Box 46
Nottingham
England
NG2 1BD
Phone: 0845 070 0040 (if dialing from within the UK)
Phone: +44 (0) 151 210 2222 (if dialing from outside the UK)
Email: non-residents@inlandrevenue.gov.uk