If you are self-employed, you will have to draw up accounts and pay tax on the trading income you have earned during an accounting period. Trading income refers to the royalties you earned from all resources sold during the accounting period.
However, you may choose to calculate your trading income on a cash basis; this means that your trading income will be all the royalties actually paid to you during an accounting period.
If you are not self-employed, the income you report will be the royalty payments you actually receive during the tax year.
TES will provide you with a statement showing your royalties earned and paid during the year.
The information contained in this section will help you think about the tax implications of selling you content on TES Resources. However, we are not tax advisors and recommend that you consult a tax professional to get more advice about your own specific circumstances.