Where best to subscribe to VCT through?

edited 29 November 2015 at 11:50AM in ISAs & Tax-free Savings
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pjreadpjread Forumite
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edited 29 November 2015 at 11:50AM in ISAs & Tax-free Savings
I've decided to toe-dip into VCT's, and am trying to work out the best broker/platform to use for a small initial investment - thinking just the min £6k into the Albion VCT's to start off. I also inferred from some literature that the shares have to be direct registered so not held under a platform, is that right?

Or is it best/simplest to just go direct?

I suspect one or two members must have some experience/advice on this to help me avoid a silly misstep :)

Replies

  • masonicmasonic Forumite
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    I'm considering investing in the Albion VCT and would probably do so through Interactive Investor (I'm already used to dealing with them, and glutton for punishment apparently ;)). It seems Albion pays trail commission if you go through an intermediary, but does not pass on any savings if you go direct (as some other VCTs do). Since trail commission will be fully rebated, this more than offsets the £30 charge for II processing the application.

    Of course, II still has the pre-filled forms from 2014/15 on their website at present, surprise surprise.
  • pjreadpjread Forumite
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    Cool yes I have a dormant III account and was who I was looking at - am I right in thinking the VCT shares stay direct registered after subscribing, so no platform charge to factor in here just purely uses them as an XO intermediary?
  • masonicmasonic Forumite
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    pjread wrote: »
    Cool yes I have a dormant III account and was who I was looking at - am I right in thinking the VCT shares stay direct registered after subscribing, so no platform charge to factor in here just purely uses them as an XO intermediary?
    The platform fee at II is flat rate, so there will be the standard £20 per quarter (including 2 free trades) to factor in if you are not already paying it. You pay that charge for your trading account even if you hold no investments in it.
  • pjreadpjread Forumite
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    Oh fair enough, £80's probably decent enough but bit high for a little £6k flutter (>1%, ouch...), any ideas on anywhere better that does any better for a small amount?

    (dormant might be the wrong word, more inactive - signed up but never started using)
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