Vodafone Return of Value forms arrived too late

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harriet

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Only received forms today despite several phonecalls to Computershare over the last month.

So what happens now that the form didn't go back
 
Same here. Absolutely appalling service. I rang them on 20 January to change address, and twice since to chase up non-appearing forms. When the forms arrived today they still carry the old address (i.e. weren't reprinted) so it took A MONTH to stick a label on an envelope and send it from Bristol to Dublin. What a farce!

I intend to fill in capital payment selection, take a copy of the form, bin it, and use that to indicate to Revenue what I selected if it ever comes up. Given that it's self-assessment, it seems unlikely to, and the Revenue are hardly going to ask the company what election thousands of Irish shareholders made. Any potential pitfalls with this?
 
Yep same here - old address and label over - I asked them 3 times what address they were sent to and they couldn't answer me
 
Thanks Mr Earl - I had thought of that approach, but now am angling against. For two reasons (1) I don't think they'll change anything - the T&Cs booklet states that while "notices sent by Computershare will be treated as received two days after being sent" (just a bit quicker than the month it actually took!) ... "any documents sent {in either direction} ... are entirely at your own risk" and Computershare accepts no liability etc ; and (2) if the Revenue accept my claim that it's a capital payment then it doesn't matter anyway.

Anyone else have any thoughts?

Thanks
 
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Olivetti said:
I intend to fill in capital payment selection, take a copy of the form, bin it, and use that to indicate to Revenue what I selected if it ever comes up. Given that it's self-assessment, it seems unlikely to, and the Revenue are hardly going to ask the company what election thousands of Irish shareholders made. Any potential pitfalls with this?
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I wonder if this is really possible. The type of shares you'll be issued are different depending on whether you chose the capital or income option - would the type of share received not be somewhere on the documentation you might have to submit to Revenue when doing returns?


Don't forget that the second part of the form, regarding the direct sale of Verizon shares using the free-dealing scheme, can still be submitted until the start of April - if you're not going to hold on to them and want to avail of that, you should send that in. And, to be honest, I think I'd just send both in now anyway - at least then you've done your best to make your wishes known in as timely a manner as possible. And, as mentioned above, complain in writing to both Computershare and Vodafone. Honestly, I don't know why Vodafone didn't just spare themselves the headache and automatically opt everyone (or at least all the one-off small investors from eircom days) for the capital option!
 
Janet said:
Honestly, I don't know why Vodafone didn't just spare themselves the headache and automatically opt everyone (or at least all the one-off small investors from eircom days) for the capital option!
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The most tax efficient option for most Vodafone shareholders would be the dividend option. I assume this is the reason it is the default option.
 
Belton said:
The most tax efficient option for most Vodafone shareholders would be the dividend option. I assume this is the reason it is the default option.
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Why is this? I thought the dividends would be taxed at your marginal rate. The other option, I thought, would allow you to use your annual CGT exemption and only be taxed as Capital Gains on the excess, if any.
 
marathonic said:
Why is this? I thought the dividends would be taxed at your marginal rate. The other option, I thought, would allow you to use your annual CGT exemption and only be taxed as Capital Gains on the excess, if any.
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Me too. I thought that as most of the small shareholders still have losses from the eircom/Valentia sale available to use, the capital option was the most tax efficient one for the majority of them.
 
I opted for the capital tax option and sent off my forms on 14th February. This morning I received a letter, dated 25th. Feb. to inform me that they had received my form after 1pm on 20th. February and the default options will be applied. In other words the "windfall" will be treated as income for taxation purposes. I rang Computershare for an explanation and they placed the blame on the Royal Mail and there is nothing they can do. It would appear that 6 days are not sufficient to send a letter to England! Anybody else have a similar problem?
 
Same letter received today and I left 10 days for posting to England. Have no proof of posting and told on phone today that must write letter to complaints dept.
 
Same boat - and quite angry

I posted my Election Form on the 13th February, a day before the Irish Times published an article by Dominic Coyle which stated that investors could still receive forms from Computershare to indicate their preferences. I too rang Computershare when I received their letter today. When I asked the call centre person could they please honour my wishes and go the capital option I was told that "you have to understand". I told her that it was they who had to understand that their inability to deal with the level of correspondance they received was the issue and was going to leave me out of pocket.
I think they took the handy way out and just allowed the default option run rather than pay the extra resources needed to process the returned forms. I urge everyone to complain to Vodafone, Computershare, the Financial Conduct Authority, the Financial Regulator and the Central Bank. I would say that Dominic Coyle would like to know how many of us there are also.
 
Jpg49 said:
I opted for the capital tax option and sent off my forms on 14th February. This morning I received a letter, dated 25th. Feb. to inform me that they had received my form after 1pm on 20th. February and the default options will be applied. In other words the "windfall" will be treated as income for taxation purposes. I rang Computershare for an explanation and they placed the blame on the Royal Mail and there is nothing they can do. It would appear that 6 days are not sufficient to send a letter to England! Anybody else have a similar problem?
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Same situation and received the letter today(27th) from Bristol UK dated 25th. It would appear post took 2 days UK-IRL. Unfortunately with the freepost envelope to return the original forms I have no proof of postage date either. As well as paying income tax we are all batched into a different share dealing date also and not the first one as we intended.
 
Don't do the typical Irish thing guys ....

Fight back !!!!

Lodge complaints and if necessary, consider appointing a law firm to represent you as a group.
 
This whole process seems totally frustrating.I actually posted my forms back on the 09.02. in the free post envelope and going for the capital option.Returned the forms for myself and my wife.I didn't bother registering the letters as I assumed 11 days was sufficient to post the forms.Doesn't seem 11 days was long enough.Amazingly got the letters back in two days received this morning advising my letters were not received on time and that I could not opt for the capital option.
I wold love to know what date you needed to post the forms back by or was an earlier deadline imposed from an admin point of view?
 
I was going to send a letter to Dominic Coyle or is there an e.mail address you can write to.I cannot seem to find it on the Irish times website?
 
This has happened to me also. Raging, i sent that form with ample time for it to get there by 20th.
 
I'm confused now. I called computershare . They said my form was received on the 21st but they said that all I need to do is declare as CGT even though defaulted to Income. The representative said that the form of election is for Vodafone's records only.
 
TravisT said:
I'm confused now. I called computershare . They said my form was received on the 21st but they said that all I need to do is declare as CGT even though defaulted to Income. The representative said that the form of election is for Vodafone's records only.
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This sounds like something that would need to be clarified by Revenue.
 
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