The air hangs heavy in a dystopian England, a fractured reflection of the late 1990s, where the fascist Norsefire regime has seized absolute control following a global nuclear catastrophe. The government, led by the omnipresent "Leader" Adam Susan, maintains its iron grip through pervasive surveillance, propaganda broadcast by the "Mouth" (state television), and the ruthless "Fingermen" (secret police). Freedom is a forgotten word, replaced by a suffocating "order" where dissent is met with extermination in resettlement camps.
On a cold November 5th, a sixteen-year-old girl named Evey Hammond, desperate and alone, finds herself targeted by the Fingermen. Before they can enact their cruel intentions, a mysterious figure emerges from the shadows. Clad in a Guy Fawkes mask, a wide-brimmed hat, and a dark cloak, this enigmatic anarchist, known only as V, rescues her. He then leads her to witness his spectacular act of defiance: the bombing of the Old Bailey, a symbol of the corrupt justice system. This explosive beginning marks Evey's unwilling entry into V's elaborate vendetta against the totalitarian state.
V takes Evey to his subterranean sanctuary, the Shadow Gallery, a hidden haven filled with forbidden art, literature, and music – remnants of the culture Norsefire sought to erase. Here, he reveals his grand design: to dismantle the fascist government piece by piece, not merely through violence, but by inspiring the populace to reclaim their freedom and embrace anarchy. He systematically targets key figures within the Norsefire regime, those who were once his torturers and captors at the Larkhill resettlement camp, where he was subjected to horrific experiments that transformed him into the being he is now.
As V orchestrates a series of theatrical acts of rebellion, from assassinating corrupt officials like Lewis Prothero, the former voice of the state, to hijacking the government's propaganda broadcasts to deliver his own revolutionary messages, Evey remains a bewildered and often frightened observer. She grapples with V's extreme methods, questioning whether his path of destruction can truly lead to a better world. Her own past, marked by the loss of her parents to the regime's brutality, fuels a simmering resentment but also a deep-seated fear.
V, recognizing Evey's potential, decides she must undergo her own transformation. He orchestrates her brutal, simulated imprisonment, making her believe she has been captured and tortured by Norsefire. Stripped of her identity and forced to confront her deepest fears, Evey discovers a note from a former prisoner named Valerie, a lesbian actress who bravely faced her execution without compromise. Valerie's story of integrity and unwavering selfhood becomes a profound catalyst for Evey. This harrowing experience, though a lie, shatters Evey's illusions and frees her from fear, allowing her to understand V's philosophy of radical individual liberty.
Meanwhile, Inspector Eric Finch, head of Norsefire's police force, the "Nose," diligently investigates V's escalating campaign. Through his investigation, Finch uncovers the horrific truth behind Larkhill, the government's complicity in biological warfare, and the true identity of V as a survivor of those experiments. The more he delves, the more disillusioned he becomes with the regime he serves, slowly realizing the extent of its depravity and corruption.
As Guy Fawkes Night approaches once more, V distributes thousands of his iconic masks across the nation, igniting widespread masked dissent and riots among the populace. He prepares for his final, most audacious act: the destruction of the Houses of Parliament, the ultimate symbol of the oppressive state. In a poignant moment, V reveals his vulnerability to Evey, entrusting her with the decision to trigger the explosives.
After a final confrontation where he faces down the head of the secret police, Peter Creedy, V, mortally wounded, returns to the Shadow Gallery. He dies in Evey's arms, having completed his vendetta and passed on his legacy. Evey, transformed and empowered, dons V's mask, becoming the new V. She places V's body on a train laden with explosives, sending it hurtling towards Parliament, fulfilling his ultimate goal of bringing down the tyrannical government. With the old order crumbling, Evey stands ready to guide the nation towards a future of true liberty and self-governance, echoing V's dream of anarchy as the ultimate freedom.