Transact becomes first platform to offer VCTs

The news follows governmental changes, announced in last year's Finance Bill, allowing VCTs to be bought by a nominee and still qualify for tax relief. Prior to this, VCTs could only be bought by investors directly and then transferred to platforms, a process many potential buyers found cumbersome and complex. The first VCTs available on Transact will be the Octopus AIM VCT, Octopus Titan VCT, which invests in early-stage high-growth businesses, and Octopus Apollo VCT, which invests in established smaller companies. Octopus said demand for VCTs over the past 12 months has been at i...