OctopusSep 12 2017

Octopus allows investment in VCT via Isa

twitter-iconfacebook-iconlinkedin-iconmail-iconprint-icon
Search supported by
Octopus allows investment in VCT via Isa

Octopus Investments announced today (12 September) that it is enabling people to invest in VCTs for the first time through their Isa.

Commenting on the announcement, Alex Davies, chief executive and founder of Wealth Club, said this latest move makes Titan massively more attractive to investors as you can now invest in it through an Isa without having to part with a penny of new money and also get up to 30 per cent tax relief.  

So, for example, he said if you transfer £10,000 from your Isa into this product you could get up to £3,000 back from the tax man.

Mr Davies said: “The news comes on the back of record raises. 

“Last week four of the major VCT providers – Octopus, Mobeus, Albion and Downing – opened their VCT offers with the aim of raising a record £348 million. That brings the total to eight open VCT offers, raising up to a total of £548m. 

“That is nearly three times as much available for investment at the same time last year (£160m, with only two VCTs raising) and higher than the amount (£542m) raised in the whole of the last tax year by all the 20 VCTs that were raising.

“Once the rest of the offers open, this is likely to be the biggest VCT year ever.”

emma.hughes@ft.com