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A bale-out

Community Veteran
Posts: 3,826
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Registered: 24-09-2008

A bale-out

£85bn, equivalent of a 1000 Gareth Bale's, that's what Vodafone receive for their share of Verizon Communications.
To put this into context, if the directors of Vodafone went on a spending spree they could afford to buy BT, Tesco, and Lloyds Banking Group.
What would you advise them to buy?

Thanks to my "favourite politician" for creating a Capital Gains Tax loophole in the 2002 finance act, the profit on the proceeds of the sale are exempt from CGT.
9 REPLIES
Community Veteran
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Registered: 02-08-2007

Re: A bale-out

This kind of greed sickens me, they could give most of it to helping the poor and various other causes, exactly how much money does a person need to have a reasonable life style ?
Community Veteran
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Registered: 30-07-2007

Re: A bale-out

Maybe they're going to pay their back-taxes with the money  Grin
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Thunderclap
Grafter
Posts: 673
Registered: 08-09-2008

Re: A bale-out

Sense of perspective time. Vodafone is a German company that lives in Luxembourg. Verizon is a US corporation whose workers live in the  Philippines. There is no precident for Vodafone to pay UK tax. HMRC is cool with this. HMRC is always cool with corporate tax evaders. Especially ones with backdoor access at sporting events. Meanwhile Gareth Bale was poor and has been given a lot of money. Gareth Bale will now get a tax bill from the HMRC for more tax than Vodafone ever pays. Vodafone sponsor Manchester United.
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Re: A bale-out

Vodafone Group plc is a British multinational telecommunications company headquartered in London and with its registered office in Newbury...  quote from Wikipedia.
Now Zen, but a +Net residue.
Community Veteran
Posts: 1,699
Registered: 30-07-2007

Re: A bale-out

Will Gareth Bale be paying tax in the UK? Surely he works and resides in Spain. That said, you can be sure that he will be paying less tax than a nurse or a teacher, because his accountants will make sure of it.
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Re: A bale-out

I'd love to say I was staggered at the sale of someone who happens to play football featuring as the lead story on the BBC 6 o'clock news.
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Re: A bale-out

Quote from: AlaricAdair
Vodafone Group plc is a British multinational telecommunications company headquartered in London and with its registered office in Newbury...  quote from Wikipedia.

I wouldn't believe everything found on wikipedia but I would believe information that comes directly from vodafone themselves. I just done a whois on vodafone.co.uk and look what they have stated to the registrar of their domain:

If that makes them German then the tax man owes me several £million for being alive.
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Grafter
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Registered: 08-09-2008

Re: A bale-out

Quote from: AlaricAdair
Vodafone Group plc is a British multinational telecommunications company headquartered in London and with its registered office in Newbury...  quote from Wikipedia.

You're right. I meant their profits are vested in the tiny European Union member state of Luxembourg.
Quote from: hulls
Will Gareth Bale be paying tax in the UK? Surely he works and resides in Spain. That said, you can be sure that he will be paying less tax than a nurse or a teacher, because his accountants will make sure of it.

In whatever tiny principality or protectorate he pays tax, his asset managers will make it the most tax efficient method - minus their 15%
Btw according to the Company's House website, in 2012 PlusNet's net worth was £3.5M - most of which is cash at bank - compare and contrast this to the other numbers here. http://companycheck.co.uk/company/03279013
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Registered: 12-08-2007

Re: A bale-out

Vodafone is definitely a UK company.
If the deal with Verizon goes through I will be pleased.  It is rumoured they will be handing a major part of it back to shareholders, and I'm one Cool
There is also a rumour that they will join AT&T to create the world's biggest telecom.  This would be a much better bet than their involvement with Verizon.