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Octopus Apollo VCT

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My dad has Octopus Apollo VCT shares and wishes to sell them so has tasked me with the job as he doesn't know how to go about it but neither do I!
Doing some googling it looks like I can either sell the shares back through Octopus or through a broker but which is likely to be best?

Thank you.

Comments

  • HappyHarry
    HappyHarry Posts: 1,813 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    You will probably get a better price through Octopus directly, but the process will likely be slower as they only make purchases at certain times. Octopus typically buy back the shares at a discount to their Net Asset Value, which Octopus should be able to tell you. You can see the current market share price on any stockbroker website or the London Stock Exchange website. 

    Has your dad held these for at least five years? If not, there will likely be a large tax bill.
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
  • Thank you, yes he's had them for over 10 years. Googling seemed to say buy back might be better (up to 5% discount) but wasn't sure so thanks for your input. There is a deadline coming up - 27th September so I think I'll get the forms sent in and do that.
  • mostwelcome
    mostwelcome Posts: 48 Forumite
    Part of the Furniture 10 Posts Name Dropper Photogenic
    edited 10 September 2024 at 6:02PM
    1. Are they paper shares? (i.e. – held in certificated form – rather than you only have electronic records). The VCT broker Wealth Club is now doing a sale service – https://www.wealthclub.co.uk/venture-capital-trusts/selling-reinvesting-vcts/

    2. Do you want cash? Or reinvest? If reinvesting, you'll be eligible for further 30% income tax relief. Choose a different VCT, or wait 6 months if you want to buy Apollo again — them’s the rules :)
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