Liability ― supplies of postage stamps and philatelic items

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides an overview of the VAT treatment of supplies of postage stamps and philatelic items.

Is there VAT on postage stamps?

There is no VAT on the face value of stamps that can be used to pay for first or second-class postage services supplied by Royal Mail. The face value of a stamp is its normal price and may be stated on, or recorded within, the stamp or the conditions governing its use.

If a stamp that can be used to pay for first or second-class postage services supplied by Royal Mail is sold for a price that exceeds its face value, only the amount by which the price exceeds the face value of the stamp is subject to VAT at the standard rate.

The following categories of postage stamps are subject to VAT at the standard rate when sold in the UK:

•
used stamps
•
unused stamps that are no longer valid
•
foreign stamps

Notice 701/8

Stamps that are subject

Continue reading the full document

To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

Popular Articles

Trusts and Inheritance Tax

Payments to trust beneficiaries

Payments to trust beneficiariesThis guidance note considers the trustees powers to make payments and whether the payment made is income or capital.This guidance note is designed to give outline and background for accountants and tax advisers who deal with clients establishing trusts. It is not

14 Jul 2020 12:52 | Produced by Tolley Read more

Employment Tax

Short-term business visitors (STBVs)

Short-term business visitors (STBVs)What is a short-term business visitor?An STBV for UK tax purposes is an individual who performs duties for a non-UK employer and as a part of those duties has been asked to spend a short period working in the UK. There is a common misconception that there is

14 Jul 2020 13:40 | Produced by Tolley in association with Gill Salmons Read more

Value Added Tax

Exemption ― overview ― items exempt from VAT in the UK

Exemption ― overview ― items exempt from VAT in the UKVAT exemption: list of supplies exempt from UK VATThe goods or services that are exempt from VAT are listed under various group headings within VATA 1994, Sch 9, Pt II.It is important to remember that not all supplies that come within a heading

14 Jul 2020 12:45 | Produced by Tolley Read more

��Ƶ