Deadline day for Vodafone shareholders
Computershare ‘will not be sending any new forms out after today’
Shareholders in Vodafone who have misplaced forms to claim their “windfall” from the Verizon deal must apply today for replacements or face a significant tax bill.
The British telecoms group said Computershare, which manages the Vodafone share register, will not be sending any new forms out after today. Forms must be completed and returned by February 20th.
Many of the State’s 380,000 Vodafone shareholders inadvertently dumped the information pack sent to them. It explained the deal and how to choose which way they received their “return of value” – cash and shares in US telecoms group Verizon to a total value of around €1.25 per Vodafone share.
Most Irish shareholders are nursing significant losses on their holdings which generally date back to the original Telecom Éireann flotation in 1999. As a result, they can receive their money and shares without paying any tax by opting to have them treated as “capital” but they must actively choose this on the form.
Otherwise the default “income” option kicks in – leaving people with a bill for income tax, universal social charge and PRSI on the full amount.
Those without forms will be treated under the default option.
Anyone looking for a form should contact the helpline on 01-696 8421.