It depends on the size of the lid, and the type of material it’s made from.
Beer bottle caps
Put them in the recycling bin. They are small, but magnets will pick them up off the sorting line.
Large plastic lids
Put these in your recycling bin. Lids larger than a credit card and stamped with the number 1, 2 or 5 inside a triangle can be recycled.
Small plastic lids
Put them in your landfill bin. Lids smaller than a credit card, like from milk, juice and soft drink bottles, can get stuck and jam the sorting machines.
Wine & spirit bottle screw tops
Put them in your landfill bin. These aluminium lids are not magnetic, so will not be picked up by the magnets.