I wearied of stamp collecting decades ago, when many countries started churning out stamps that were seldom used for postage. I knew that my executors would have trouble disposing of my collection, and I myself didn't find it easy, as so many "old" stamps are on offer that they don't sell, even at rock-bottom prices. Last summer I sold the residue to a local dealer for a good price - then found one loose stamp catalogued at £100+ at the bottom of a drawer. I've listed it on eBay, with no interest in it, though I'm reducing the price by £1 for every re-listing. At least I have two museums interested in accepting my postcard collection.
My understanding is that one does not have to declare miscellaneous income of up to £1k to HMRC and that this can cover occasional sales, royalties for magazine articles and the like. Selling one's private collection for more than £1K is also tax-exempt, IIRC, though HMRC eyebrows might rise if the collection is of vintage cars or old masters! And it might be difficult to persuade HMRC that one is "disposing", rather than "trading". A few years back, my receipts did total more than £1K a couple of times but in many cases I was selling stamps for £100 that had cost me more than that 30 years ago.
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