FAQs

The share price of Unicorn AIM VCT plc is listed on the London Stock Exchange. You can access the latest share price for the VCT by clicking on the link ‘Live Share Price’ on this website.

The VCT’s Registrar is The City Partnership (UK) Limited(“City”).

You can now access your shareholding online using The Investor Hub (“Hub”). The Hub is an on-demand online tool which allows you to:

• View your shareholding and associated indicative valuation
• View your transaction history, share certificate details and dividend information
• Make sure your personal details held on the register are up to date
• Find answers to FAQs

How do I create an account and access the Hub?

You can access the Hub by visiting https://unicorn-aim.cityhub.uk.com/

You will need to create an account by selecting ‘Create your Hub account’ towards the bottom of the screen. Once your account has been created, you will receive a confirmation email to the address notified by you at registration. Once your account has been approved by City, you will receive a ‘Status Update’ email which contains a link to ‘Log in to your account’. Once you have logged in please click on ‘My Shares’ on the left-hand menu. You will then be prompted to enter your Web Access Token, which will be posted to you, to complete the Hub registration process. You will then have access to your shareholding.

If you require any assistance with the Hub registration process, please call City’s Registrar Team on 01484 240 910 or email registrars@city.uk.com

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 VCT 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.

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.

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.

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.

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 Financial Services Authority (now the Financial Conduct Authority) have published a joint warning which shareholders are advised to read if they have received such an unsolicited approach.

For investment queries please contact:

Unicorn Asset Management on 020 7253 0889 or info@unicornam.com

For shareholding queries please contact:

City Registrars: 01484 240910 or email registrars@city.uk.com

For other queries please contact the Company Secretary on:

ISCA on 01392 487056 or email unicornaimvct@iscaadmin.co.uk