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'Vodafone Windfall'

  • 02-04-2014 2:49pm
    #1
    Firblog
    Registered Users, Registered Users 2 Posts: 2,199 ✭✭✭


    Hi

    I recently received a payout from Vodafone for the Verizon purchase that took place.

    I filled in the vodafone form to say I wanted to be paid as a lump sum and not as a dividend - as revenue advised - to avoid the tax as I've held these shares since they bought out eircom/eircell.

    However I received the form back in the post - on the closing date -as I had not signed the bloody thing...

    I've wrote to Revenue to outline all this, and have been told today that it will be treated as income and will be taxed as such.

    I am right on the threshold of going into the 40% bracket and this will surely tip me over, which I think will mean all my income will be taxed @ 40%. (obviously can't afford this)

    I feel that this is very unfair - I made a simple mistake filling out the form and it's going to cost me a considerable amount of money - any suggestions as to what I can do?

    I asked the revenue person on the phone to write to me detailing their decision so that I can appeal it, am I wasting my time?

    Cheers


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