The issue of a postage stamp, and any subsequent transfer of it, is a supply of services for the purposes of this Act.

The consideration for the issue or subsequent transfer of a postage stamp is to be disregarded for the purposes of this Act, except to the extent (if any) that it exceeds the face value of the stamp.

The “face value” of the stamp is the amount stated on or recorded in the stamp or the terms and conditions governing its use.

This section has effect with respect to postage stamps issued on or after 1 January 2019.