Venture Capital Trust Investors

Welcome to the VCT investor area for the four VCTs advised by Mobeus Equity Partners. Please review our frequently asked questions (FAQs) section below where you will find answers to most queries you may have.

Performance Overview

Fund Net asset value per share (p) Latest valuation date Total dividends paid (p) NAV total return (p)
Mobeus Income & Growth VCT 74.08 30 September 2017 104.80 178.88
Mobeus Income & Growth 2 VCT 103.25 30 September 2017 69.00 172.25
Mobeus Income & Growth 4 VCT 87.68 30 September 2017 98.20 185.88
The Income & Growth VCT 81.24 30 September 2017 102.50 183.74

Further detail is contained within each VCT's page

FAQs

How can I find the latest share price?

The share prices of the Mobeus VCTs are listed on the London Stock Exchange. You can access the latest share price for each VCT by visiting each individual VCT page within this website.

Who is the Registrar for the Mobeus VCTs?

The Mobeus VCTs, with the exception of Mobeus Income & Growth VCT plc, have Link Asset Services (“Link”)  as their registrar. Mobeus Income & Growth VCT plc uses Computershare Investor Services (“Computershare”).

For details on your individual shareholdings and to manage your accounts on online, shareholders are encouraged to log into or register with Link's Shareholder Portal, Signal Shares, and the Computershare Investor Centre, depending  on the VCTs in which you have invested, by clicking on the following links: 

                                              

These services enable you to manage your shareholder accounts online and are the most efficient way of checking information on your accounts and making changes to your instructions. You can use these online services to:

-  Change your address details
-  Check your holding balance and transactions
-  View the dividends you have received
-  Add and amend your bank details
-  Change your options for receiving communications from the Company; and
-  Submit your proxy votes for general meetings.

When contacting either of the Registrars, you will need to confirm the address where your shares are registered and your shareholder account details.  Please have your shareholder number to hand. This is shown on your share certificates, dividend tax vouchers and proxy cards.

Alternatively, you may prefer to contact the registrars in writing or by phone:

Link Asset Services

34 Beckenham Road, Beckenham, Kent BR3 4TU
Tel: 0371 664 0324

Calls cost 10p per minute plus network extras.   Lines are open 8.30am-5.30pm Mon-Fri. If calling from overseas please ring +44 203 170 0187. 

Capita Asset Services was acquired by Link Group in November 2017.

Computershare Investor Services

PO Box 82, The Pavilions, Bridgwater Road, Bristol BS99 7NH
Tel: 0370 707 1155 

How much have I been paid in dividends?

A dividend history for each VCT listing the payment dates and the amounts paid per share for each dividend can be accessed by going to Dividends in each VCT’s section of this website.  

The full record of your individual shareholder account is however only held by the registrar for your investment.  This is Computershare in the case of Mobeus Income & Growth VCT and Link for the other three Mobeus VCTs. This information, including how much and when dividends were paid to you, is available to you online through each registrar’s website, or by telephone.

For full contact details, please see the FAQ above, ‘Who is the Registrar for the Mobeus VCTs’.

When will the next dividend be paid?

The Directors generally recommend a final dividend to shareholders at each Annual General Meeting of the Company and details of these dividends are included in the Annual Report to which they relate.   Subject to shareholder approval at the Annual General Meeting, the dividend will normally be paid within two weeks of  the meeting.

Interim dividends may be paid when the Directors determine that the Company has sufficient income or following a capital realisation of one of the Company’s investments.  Interim dividends may be declared at any time but are more frequently declared at the Half-Year stage.  They are normally paid four to five weeks after they are declared.

The VCTs cannot guarantee the amount of dividend to be paid in each year or the timing of payments and the level of distributions to shareholders may fluctuate.

Can I re-invest my dividends?

Each of Mobeus Income & Growth 4 VCT and The Income & Growth VCT operates a Dividend Investment Scheme, providing their respective shareholders with the opportunity to reinvest their cash dividends into new shares in the respective Mobeus VCT. 

New VCT shares attract the same tax reliefs as shares purchased through an Offer for Subscription (for further details see FAQ below). 

The Schemes allow shareholders to re-invest at an advantageous price, being the average market price of the shares for the five business days prior to the dividend being paid and 70% of the last published net asset value per existing share.  This price is likely to be at a discount of 10% to the underlying net asset value.

The terms and conditions for the Schemes and a mandate form can be downloaded by going to Dividends in each VCT’s section of this website.

What are the tax reliefs available on investment in new VCT shares?

The tax reliefs available on new  shares are

  • Income tax relief of up to 30% on the amount invested in new VCT shares*
  • Tax free dividends*
  • Tax free capital gains*

*On amounts invested up to £200,000 per person, per tax year, for individuals aged 18 or over who are UK tax payers, acquired by any means.

There is a minimum holding period of five years for new shares.

There have been different holding periods and initial VCT tax reliefs in the past. To view a summary of VCT tax reliefs available since 1995 click here.

What are the tax reliefs available on investment in existing VCT shares?

The tax reliefs available on existing shares are

  • Tax free dividends*
  • Tax free capital gains*

*On amounts invested up to £200,000 per person, per tax year, for individuals aged 18 or over who are UK tax payers, acquired by any means.

There is no minimum holding period for these tax reliefs for investors in existing VCT shares.

Can VCT tax advantages be passed to my beneficiaries?

Shareholders may wish to either:

  • Give your VCT shares to your beneficiaries during your lifetime. This may reduce the overall value of an estate prior to your death as a potentially exempt transfer *; or
  • Make a bequest of your VCT shares to your beneficiaries through your will.

* A potentially exempt transfer (PET) is a gift from one person to another that is not liable to inheritance tax, provided the person making the gift lives for a minimum of 7 years after the transfer is made. If death occurs within 7 years, inheritance tax is payable to the extent that the total of all PETS in the previous 7 years exceeds the nil rate band.

Individuals who receive VCT shares as a gift or as an inheritance can benefit from tax free income and tax free capital gains. However, there are other tax implications of gifting VCT shares, which need to be carefully considered before any actions are taken.  To view a summary of these tax implications click on the links below:

Transfer to spouse/civil partner 

Transfer to a recipient who is not a spouse of civil partner

Practical  and other tax points to consider:-

Notification of the death of a shareholder

In the event of the death of a shareholder, the person dealing with the deceased shareholder's affairs should notify the Registrar.

VCT shares left in your will

You should ensure your executors know what should happen to your VCT shares after your death. To achieve this, your will should contain specific instructions as to who should inherit them. Otherwise, as VCT shares are listed, in the absence of any specific instructions, executors may seek to sell the shares.

Please note that, while shares remain in an estate, there are no VCT tax advantages and the estate may have to declare the income for tax purposes if dividends are paid on the shares.

The following are possible practical steps VCT investors might take to minimise the
time their shares are held in an estate after their death:-

  • Find all share certificates – sort out replacements if any missing. Please note that an indemnity be payable to replace a lost certificate in addition to an administration fee charged by the Registrar
  • Reduce number of share certificates by asking registrar to consolidate certificates. Please note the Registrar will charge fees for consolidating share certificates
  • Ensure share certificates are kept in a safe place
  • Ensure the executors know where the latest, most up to date version of your will is kept

Initial VCT income tax relief & deferred capital gains

In the event of death, initial VCT income tax relief is not withdrawn even if death occurs within the minimum holding period. However, any deferred capital gains are extinguished on death.

Inheritance tax

As VCT shares are listed shares they are valued with an individual's estate and therefore contribute towards its overall value, part of which may be subject to inheritance tax although transfers between spouses are (normally) not subject to inheritance tax.

Seeking advice

Estate planning can be a complex area and we strongly recommend that you seek advice from an appropriately approved and qualified adviser who can provide advice based on your personal circumstances.

 

What should I do if I receive an unsolicited offer for my shares?

Some shareholders have received unsolicited calls from individuals purporting to represent organisations that are offering to buy their VCT shares.  They frequently offer prices above current market values which seem very attractive.  Whilst the callers may sound credible, shareholders should be aware that their intentions are often fraudulent.  These callers can be persistent and persuasive.  You should be careful not to divulge any personal details to them.

VCT shareholders are warned to be very suspicious if they receive such a telephone call.

The Institute of Chartered Secretaries and Administrators and the FSA have published a joint warning which shareholders are advised to read if they have received such an unsolicited approach.

What should I do if I wish to sell my shares in a Mobeus advised VCT?

Each VCT's shares are listed on the London Stock Exchange and as such they can be sold in the same way as any other quoted company through a stockbroker. However, to ensure that you obtain the best price, if you wish to sell your shares, you are strongly advised to contact the Company’s stockbroker, Panmure Gordon, by telephoning 020 7886 2716/7 before agreeing a price with your stockbroker. Shareholders are also advised to discuss their individual tax position with their financial advisor before deciding to sell their shares

Shareholder Queries

Contact Mobeus on 020 7024 7600 or email vcts@mobeusequity.co.uk