I have collected stamps for over 50 years ,so have a huge amount that I now need to sell.
I am wondering if I need to complete a HMRC self-assessment and inform UK tax office, or as I am not a trader just a collector over the years wishing now to sell, whether I need to do anything.
I am guessing I have over £50000 in stamp value but over 1000 items in my cupboards, I am anticipating due to time, a total per year of maybe £10000 sales.
I have looked at guidance and it is very murky and seems to change by the month.
Can anyone help as I do not want to start selling if I then get a huge HMRC bill plus fines for not registering if I have to???
Thanks
G