GuideVenture Capital Trusts

What to expect from your VCT

What to expect when investing in a VCT, how to manage your investment and when to get in touch.

What to expect from our VCTs

What your client can expect when investing in a VCT, how to manage their investment and when to get in touch.

Application and allotment

Application and allotment


What is the application process?

Once you (or your adviser) have completed your online application, we’ll need you to check the details and confirm you’re happy to make your investment. Once we’ve had confirmation, we’ll provide you with the bank details you’ll need to transfer your funds to.

Once we’ve received your application, cleared funds and confirmed your place in the VCT, we’ll send you a welcome communication. We’ll then allot your shares at the next available opportunity, and Computershare (the VCT’s registrar) will send your share and tax certificates around 21 days after allotment.

What happens with my money before you allot my shares?

We’ll hold your funds in cash on your portfolio until the share allotment date. This process typically takes a few weeks but can sometimes take longer, but we always aim for shares to be allotted in the same tax year as the application was made.

When complete, we’ll let you know your shares have been allotted, and provide you with instructions on how to view your shares through our online portal. Please note, you won’t be able to see your cash or your new shares online until they’re allotted (usually around a week after allotment).

What is an allotment?

Share allotment is the creation and issuing of new shares by a company. New shares can be issued to either new or existing shareholders. We’ll always provide you with expected timings for allotment.

How do I manage my investment?

The online portal is the best place to view and keep up to date with your investment. You can register at portal.octopusinvestments.com. Here you’ll be able to view the current value of your investment, dividends paid, and share allotment dates. You won’t be able to download your share certificates, but you’ll be able to see which ones are valid in case you need to sell your shares in the future. 

As a reminder, you won’t be able to see your cash or your new shares until they’re allotted.

How do I find out how long I have held my shares?

Our online portal is the best way to keep up to date with your VCT investment. The date of the allotment for your shares is the date your five-year clock begins (to keep any income tax relief claimed), even for any DRIS shares. You can see all your share allotment dates through the portal, or if you need some help, feel free to call us on 0800 316 2295.   

Application and allotment


What is the application process?

When our VCTs are open for fundraise, you can apply online on behalf of your client through the relevant product page. We’ll keep you and your client updated throughout each stage of the process, but we’ve set out the steps below.

  • We’ll email your client asking them to confirm they’re happy with their application details.
  • Once we’ve had confirmation, we provide your client with the bank details they’ll need to transfer their funds to.
  • We confirm when we’ve received your client’s funds.
  • We’ll then allot your client’s shares at the next available opportunity, letting you both know when this happens.
  • Computershare (the VCT’s registrar) will send your client their share and tax certificates around 21 days after allotment.

How do I manage my client’s investment?

The online portal is the best place to view and keep up to date with your client’s investment. You can register at portal.octopusinvestments.com. Here you’ll be able to view the current value of their investment, dividends paid, and share allotment dates. Please note, you won’t be able to see your client’s cash or their new shares online until they’re allotted (usually around a week after allotment).

How do I find out how long my client has held their shares?

The date of the allotment for your client’s shares is the date the five-year clock begins. You can see share allotment dates through the portal, or if you need some help, feel free to call us on 0800 316 2067

Computershare

Who are Computershare?

The administration of your shareholding in the VCT will be looked after by a company called Computershare, who are the VCT’s registrar. You will receive your share and income tax certificates from Computershare, usually within 21 working days of your shares being allotted. In addition, we’ll also provide you with a guide to claiming your tax relief. Please note, if you lose your share or tax certificate there may be a cost to replace it.

If required, Computershare’s contact details are as follows:

Address: The Pavilions, Bridgwater Road, Bristol BS99 6ZZ
Phone: 0370 702 0000

Getting a replacement share certificate

You’ll need Computershare (the VCT registrar) to provide you with a letter of indemnity to replace the certificate. The cost will vary depending on the VCT and the value of the share certificate. We’ll be able to confirm costs with you and explain the process in more detail, so call us on 0800 316 2295.

Once Computershare has received the completed letter of indemnity, it takes them ten working days to issue the new share certificates. These will be posted to you.

Getting a replacement tax certificate

If you’re registered for the Computershare online portal, you can log in to download replacement tax certificates directly through them. Alternatively, you can call us on 0800 316 2295.


How will you keep me updated on my client’s VCT?

We’ll let you know when annual and half-yearly reports are available to view online. They will include updates from the Chair of the VCT and Octopus Investments, the VCT manager. Computershare (the VCT registrar), will write to you confirming dividend payments, and will write to give you the option to vote on resolutions and proposals, (e.g. new fundraises), from the VCT’s board. Each VCT will host an Annual General Meeting (AGM) and a separate shareholder event, which we’ll always communicate the details of to you in advance. We’ll also provide you with the contact details of the Board if you’d like to ask questions ahead of the AGM.

Who are Computershare?

The administration of our VCTs is looked after by a company called Computershare, who are the VCT’s registrar.

How does my client get a replacement share certificate?

They will need to contact Computershare (the VCT registrar) who will provide them with a letter of indemnity to replace the certificate. The cost will vary depending on the VCT and the value of the share certificate. We’ll be able to confirm costs with you and explain the process in more detail, so call us on 0800 316 2067.  

How does my client get a replacement tax certificate?

If they are registered for the Computershare online portal here, they can log in to download replacement tax certificates directly through them.

How will you keep me updated on my client’s VCT?

We’ll tell you when annual and half-yearly reports are available. They will include updates from the Chair of the VCT and Octopus Investments, the VCT manager. Each VCT will host an Annual General Meeting (AGM) and a separate shareholder event, which we’ll always communicate the details of to you in advance.

Dividends

Dividends

Dividends processes

What is the Dividend Reinvestment Scheme?

The Dividend Reinvestment Scheme (DRIS) enables you to use your dividends to buy additional new shares in the VCT. These additional shares will be eligible for 30% income tax relief, will have their own five-year clock (which you’ll need to hold them for to retain any income tax relief claimed), and share and tax certificates.

How do I switch dividend reinvestment on or off?

If you’d like to reinvest your dividends, you will need to request a Dividend Reinvestment Scheme (DRIS) mandate form from us. We need this completed form returned to us 2-3 working days before the registration date of the next dividend to make the change in time.

If you’d like to turn DRIS off and have your dividend paid to you in cash, we’d need a signed letter of instruction confirming that you’d like to opt out of the DRIS scheme, including:

Your full name and address

The name of the VCT, e.g. ‘Octopus Titan VCT’

The bank details you’d like the payments to go to (with proof of account, such as a bank statement within the last three months, or a void cheque).

Please then post this to our postal address at:

Octopus Investments
PO BOX 10847
Chelmsford
CM99 2BU

Getting a replacement dividend

If you lose your dividend cheque, we recommend you call Computershare directly to request a replacement on 0370 702 0000. Or if you’d prefer your payment by BACS, you can also request this from Computershare. Please note there may be a charge depending on the dividend value.

You can request a replacement through us directly, however, to receive a payment via BACS we’ll likely need proof of account, such as a bank statement within the last three months, or a void cheque. 

What is the Dividend Reinvestment Scheme?

The Dividend Reinvestment Scheme (DRIS) is a scheme that enables clients to use their dividends to buy additional new shares in the VCT. These additional shares will be eligible for 30% income tax relief, will have their own five-year clock and share and tax certificates.

How does my client switch dividend reinvestment on or off?

If they’d like to reinvest their dividends, they will need to request a Dividend Reinvestment Scheme (DRIS) mandate form from us. We need this form 2-3 working days before the registration date of the next dividend to make the change in time.

If they’d like to turn DRIS off and have their dividend paid to them in cash, we’d need a signed letter of instruction confirming that they’d like to opt out of the DRIS scheme, including:

Their full name and address

The name of the VCT, e.g. ‘Octopus Titan VCT’

The bank details they’d like the payments to go to (with proof of account, such as a bank statement within the last three months, or a void cheque).

Please then post this to our postal address at:

Octopus Investments
PO BOX 10847
Chelmsford
CM99 2BU

Getting a replacement dividend

If your client has lost their dividend cheque, we recommend they call Computershare directly to request a replacement on 0370 702 0000.  

Updating details

Updating your details

Updating details

How do I change my personal details?

If you’d like to change any of your personal details, please give us a call on 0800 316 2295. To update your bank details, please see below.

Change of bank account details

If you’d like to change the bank details we have on file for you, please send us a signed letter of instruction, (along with proof of account, such as a bank statement within the last three months, or a void cheque), to:

Octopus Investments
PO BOX 10847
Chelmsford
CM99 2BU

What happens when someone passes away

When an investor passes away and holds a VCT with us, the bereavement process is managed by Computershare (the VCT registrar).

As soon as you are able to, please email across a copy of the death certificate to [email protected]. We’ll forward this onto Computershare on your behalf. Once processed by Computershare, they’ll post out a bereavement pack. This will be sent to the executor of the estate as default, however if you would like it to be sent elsewhere such as financial adviser or solicitor, please provide us with an alternative address.

If required, Computershare’s contact details are as follows:

Address: The Pavilions, Bridgwater Road, Bristol BS99 6ZZ
Phone: 0370 702 0000

How do I change my client’s personal details?

If you’d like to change any of your client’s personal details, please give us a call on 0800 316 2067.

Change of bank account details

If your client would like to change the bank details we have on file for them, they need to send us a signed letter of instruction, (along with proof of account, such as a bank statement within the last three months, or a void cheque), to:

Octopus Investments
PO BOX 10847
Chelmsford
CM99 2BU

What happens when someone passes away

When an investor passes away and holds a VCT with us, the bereavement process is managed by Computershare (the VCT registrar).

As soon as you are able to, please email across a copy of the death certificate to [email protected]. We’ll forward this onto Computershare on your behalf. Once processed by Computershare, they’ll post out a bereavement pack. This will be sent to the executor of the estate as default, however if your client would like it to be sent elsewhere such as financial adviser or solicitor, please provide us with an alternative address.

If required, Computershare’s contact details are as follows:

Address: The Pavilions, Bridgwater Road, Bristol BS99 6ZZ
Phone: 0370 702 0000

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