VCT investments are higher risk investments. Please see our main VCT page for further important information. REMEMBER, ONLY PURCHASE A VCT INVESTMENT THROUGH AN EXECUTION-ONLY BROKER LIKE CLUBFINANCE IF YOU DO NOT NEED ADVICE. CLUBFINANCE WILL NOT ASSESS THE SUITABILITY OR APPROPRIATENESS OF ANY INVESTMENT. For advice on suitability or an assessment of appropriateness, please contact an authorised and regulated financial adviser.
If you know which VCT you would like to invest in and it is open for the 2011/12 tax year, please use the documentation in the table below. If the VCT is not listed or if you have difficulties, please contact us using the form at the bottom of this webpage and we will send you the appropriate documentation. A commission rebate of 100% of Clubfinance's initial commission (as additional shares) plus 75% of renewal commission will apply.
Please see How to Invest - the process for details of the necessary steps and information you need to make an investment.
IMPORTANT NOTE ON CHARGES - Charges for VCTs can be very high and come in many different types and forms. Please ensure you read the Prospectus/Securities Note in detail to understand the charges.
Please remember to send your completed application form(s) together with a signed Client Declaration and Identification Documents to Clubfinance Ltd. -  click here for details. 

DISCOUNTS: If you find a better initial discount elsewhere, please contact us and we will we see if we can match it. Please remember, we always give back all our initial commission on VCTs.

TOP-UPS: The share price you pay for a top-up issue is usually based on the Net Asset Value (NAV) of the same shares already in issue. When choosing a VCT top-up, please be aware that the shares already in issue can trade at a discount to NAV. This discount on the secondary market can in some cases be more than the income tax relief you might receive by investing through the top-up offer. Please see the London Stock Exchange for the latest VCT share prices.

VCT fund name	Type	Minimum	Expected Closing Date*	Initial Discount**	Annual Cash Back**	Documents (see icon key located beneath the table)
Albion VCTs Linked Top Up		£10,000	5-Apr-12	2%	0.3% (max 1.5%)
Amati VCT 2 (formerly ViCTory VCT) (top-up)		£2,000	5-Apr-12	2.75%/3%2	0.28% (max 1.4%)
Amati VCT 2 (formerly ViCTory VCT) Enhanced Share Buy Back - EXISTING AMATI VCT 2 SHAREHOLDERS ONLY3		N/A	5-Apr-12	3%4	0.28% (max 1.4%)
Baronsmead VCTs 1-4 Offers (top-ups) Baronsmead VCT 1 & 2: FULL		£4,000	This week	2%	0.3% (max 1.2%)
British Smaller Companies VCT2 (top-up)		£5,000	5-Apr-12	2.75%	0.375% (max 1.5%)
Downing Income VCT 3 'E' Share		£5,000	5-Apr-12	3.75%5	0.1875% (max 1.125%)
Downing Planned Exit VCT 2&3 'F' Share		£5,000	5-Apr-12	2.25%/3.25%6	0.1875% (max 0.9375%)a
Downing Structured Opportunities VCT 1 'D' Share		£5,000	5-Apr-12	2.25%/3.25%7	0.1875% (max 0.9375%)a
Edge Performance VCT 'H' Share		£5,000	5-Apr-12	2.50%	0.1875%b
Edge Performance VCT 'I' Share		£5,000	30-Mar-12	3.5%/5.5%8	0.28% (max 1.125%)
Elderstreet VCT (top-up)		£5,000	5-Apr-12	3.25%	0.1875% (max 0.9375%)
Foresight 1&2 VCT Infrastructure Shares		£5,000	5-Apr-12	4%9	0.375% (max 2.25%)a
Foresight 3 VCT Enhanced Buyback - EXISTING QUALIFYING SHAREHOLDERS ONLY1		N/A	3-Apr-12	1%10	-1
Foresight Solar VCT (top-up)		£3,000	8-Nov-11	3%	0.375% (max 2.25%)a	CLOSED
Ingenious Entertainment VCT 1&2 'G' Share		£3,000	5-Apr-12	4%	0.1875% (max 0.9375%)
Iona Environmental VCT 'B' Share		£5,000	5-Apr-12	4%	0.1875% (max 1.875%)a
Matrix VCTs Linked Offer (top-ups)1		£5,000	5-Apr-12	4%11	-1
Maven Income & Growth VCTs (linked top-up offer)		£5,000	5-Apr-12	4.5%12	0.1875% (max 0.75%)
Northern 2 VCT (top-up)		£5,000	5-Apr-12	3.25%/4.25%13	0.1875% (max 0.9375%)
Octopus VCT 3&4		£3,000	5-Apr-12	2.5%	0.375% (max 3.375%)
Octopus Titan VCTs Top Up Offers		£3,000	5-Apr-12	2.5%	0.375% (max 3.375%)
ProVen VCT (top-up)		£5,000	5-Apr-12	4%/5%14	0.1875% (max 0.9375%)
Puma VCT 8		£5,000	5-Apr-12	2.5%	0.26% (max 1.3%)
Triple Point TP12(I) & TP12(II) VCTs		£25,000	26-Mar-12	1.75%15	0.375% (max (1.875%)
Unicorn AIM VCT Top Up Offer1		£2,000	5-Apr-12	3.5%	-1

* Expected closing dates are for the 2011/12 tax year. Note that complete applications must reach Clubfinance at least 3 working days prior to the closing date, and offers can close early.

**- please generate a commission statement and see the Securities Note/Prospectus/offer document for further information. All initial discounts shown are given as additional shares, except where specifically noted. The discounts shown include early bird additional shares offered by the VCT.

^a- Please note that for these VCTs, this maximum may not be reached due to the limited life nature of the VCT.

^b- Renewal commission for Edge Performance VCT 'H' shares is 0.375% for the first 4 years which will result in Clubfinance's renewal commission rebate being 0.28% over this period.

¹- For these VCTs there is no renewal commission. As Clubfinance rebates 100% of its initial commission, Clubfinance therefore receives nothing for arranging these particular VCTs. This is in line with our 100% initial commission rebates for VCTs generally. We do this to provide clear, consistent, and competitive discounts that are transparent in terms of the commission we give up and keep. We do not charge a fee for this service.

²- For the ViCTory VCT top-up offer, the initial discount (representing Clubfinance’s rebated initial commission) is 2.75%, or 3% for existing ViCTory VCT shareholders.

³- Available to existing Amati VCT 2 shareholders only.

⁴- For the Amati VCT 2 Enhanced Share Buy Back the initial discount of 3% represents 3% additional shares provided under the terms of the Buy Back (see page 13 of the Prospectus).

⁵- The initial discount for Downing Income VCT 3 comprises Clubfinance’s rebated initial commission of 2.25%, and 1.5% additional shares provided under the terms of the offer for early applications received and accepted by 29 February 2012. Please ensure applications are received by Clubfinance by 28 February 2012 to ensure this additional share allocation is obtained (please contact us if you have difficulty meeting this deadline). The cost of these additional “early-bird” shares will be met by Downing LLP (e.g. from the issue costs of the offer), and will not, therefore, be an additional charge to the VCT.

⁶- For Downing Planned Exit VCT 2&3 existing shareholders (including spouses) in Downing-managed VCTs will receive 1% additional shares (i.e. in total they will receive the higher initial discount shown above) for applications received and accepted by 17 February 2012. Please ensure applications are received by Clubfinance by 16 February 2012 to ensure this additional share allocation is obtained (please contact us if you have difficulty meeting this deadline). The cost of these additional “early-bird” shares will be met by Downing LLP (e.g. from the issue costs of the offer), and will not, therefore, be an additional charge to the VCT.

⁷- For Downing Structured Opportunities VCT 1, existing shareholders (including spouses) in Downing-managed VCTs, will receive 1% additional shares (i.e. in total they will receive the higher initial discount shown above) for applications received and accepted by 17 February 2012. Please ensure applications are received by Clubfinance by the 16 February 2012 to ensure this additional share allocation is obtained (please contact us if you have difficulty meeting this deadline).

⁸- The initial discount for Edge Performance VCT 'I' shares comprises Clubfinance's rebated initial commission of 2.5%, and 1% additional shares (or 3% for existing shareholders and their spouses or civil partners) provided under the terms of the offer for early applications received and accepted by 29 February 2012. Please ensure applications are received by Clubfinance by 28 February 2012 to ensure this additional share allocation is obtained (please contact us if you have difficulty meeting this deadline).These additional “early-bird” shares are not paid for out of the issue costs of the offer, and therefore this part of the initial discount is only relative to later investors who do not receive the additional early-bird shares.

⁹- The initial discount for Foresight 1&2 VCT Infrastructure Shares comprises Clubfinance's rebated initial commission of 3%, and 1% additional shares provided under the terms of the offer for early applications received and accepted by 29 February 2012. Please ensure applications are received by Clubfinance by 28 February 2012 to ensure this additional share allocation is obtained (please contact us if you have difficulty meeting this deadline). The cost of these additional “early-bird” shares will be met by Foresight Group (e.g. from the issue costs of the offer), and will not, therefore, be an additional charge to the VCT.

¹⁰- For the Foresight 3 VCT Enhanced Buyback - Clubfinance will receive this 1% initial commission as cash. Clubfinance will rebate the initial commission we receive for this offer as part of our annual commission rebate process in December (see our Terms of Business for more information). Note that investors will still receive the 3% additional Incentive Shares that are available under the terms of the offer when purchasing Additional Shares only.

¹¹- The initial discount for Matrix VCT linked top-up offer comprises Clubfinance’s rebated initial commission of 2.75%, and 1.25% additional shares provided under the terms of the offer for early applications received and accepted (up to a maximum of £ 4 million in aggregate) by 29 February 2012. Please ensure applications are received by Clubfinance by the 28 February 2012 to meet the 29 February 2012 deadline (please contact us if you have difficulty meeting this deadline). The cost of these additional “early-bird” shares will be met by Matrix (e.g. from the issue costs of the offer), and will not, therefore, be an additional charge to the VCT.

¹²- For 2011/12 tax year applications only, the initial discount for Maven Income and Growth VCTs top-up comprises Clubfinance’s rebated initial commission of 3% and 1.5% additional shares provided under the terms of the offer for early applications received and accepted by 29 February 2012. Please ensure applications are received by Clubfinance by 27 February 2012 to ensure this additional share allocation is obtained (please contact us if you have difficulty meeting this deadline). Applications for the 2012/13 tax year will receive a discount of 3% representing Clubfinance's rebated initial commission. The cost of these additional “early-bird” shares will be met out of the 5.5% issue costs.

¹³- The initial discount for Northern 2 VCT comprises Clubfinance's rebated initial commission of 2.25%, and 1% additional shares (or 2% for existing shareholders in NVM-managed VCTs) provided under the terms of the offer for early applications received and accepted by 6 February 2012. Please ensure applications are received by Clubfinance by 3 February 2012 to ensure this additional share allocation is obtained (please contact us if you have difficulty meeting this deadline). The cost of these additional “early-bird” shares will be met by Downing or NVM (e.g. from the issue costs of the offer), and will not, therefore, be an additional charge to the VCT.

¹⁴- The initial discount for ProVen VCT (top-up) comprises Clubfinance's rebated initial commission of 3%, and 1% additional shares (or 2% for existing shareholders (including spouses) in one of the ProVen VCTs) provided under the terms of the offer for early applications received and accepted by 14 February 2012. Please ensure applications are received by Clubfinance by the 13 February 2012 to ensure this additional share allocation is obtained (please contact us if you have difficulty meeting this deadline). The cost of these additional “early-bird” shares will be met by Beringea (e.g. from the issue costs of the offer), and will not, therefore, be an additional charge to the VCT.

¹⁵- The initial discount for Triple Point TP12 VCT comprises Clubfinance’s rebated initial commission of 1%, and 0.75% additional shares provided under the terms of the offer for early applications received and accepted (up to a maximum of £10 million in aggregate) by 23 February 2012. Please ensure applications are received by Clubfinance by 22 February 2012 to meet the 23 February 2012 deadline (please contact us if you have difficulty meeting this deadline). These additional “early-bird” shares are not paid for out of the issue costs of the offer, and therefore this part of the initial discount is only relative to later investors who do not receive the additional early-bird shares.

Key:

	Link to the Prospectus, Mini-prospectus, Securities Note, or Offer document, and Application Form (in PDF format) for each VCT.		Link to essential Clubfinance information required to proceed with a transaction through Clubfinance.		Additional Risk Warnings you must be aware of before making a VCT investment.
	Click on this icon to be taken to a webpage where you can generate your own tailored Commission Statement.			Clicking on this icon will take you to a website linked to the VCT which may provide additional useful information.

Don't see the VCT you are interested in listed?

We will endeavour to obtain and e-mail you the product documentation and our standard VCT commission rebates will apply.

Clubfinance Ltd is authorised and regulated by the Financial Services Authority. Clubfinance offers an execution-only discount broker service; Clubfinance does not give advice or recommendations. If you have any doubt about the suitability of a particular product or service, or you require advice, you should seek a personal recommendation from an appropriate firm that does give advice. Clubfinance does not produce the products it arranges, or manage the underlying investments. Payments must not be made to Clubfinance, but to the relevant product provider. Contact details for Clubfinance can be found under ‘contact us’. Users of this website should be aware of the following:

• Past performance is not a reliable indicator of future results.

• The value of investments and the income from them can fall as well as rise as a result of market and currency fluctuations. For many types of investment, you may be placing your capital at risk, meaning that you may not get back the amount originally invested and you may risk losing your entire investment.

• Some investments and policies may only be suitable as medium or long-term products.

• Tax treatments depend on your individual circumstances and may be subject to change in future.

• This website contains financial promotions relating to services offered by and products available through Clubfinance.

• In the event of any conflict between product literature and information provided by Clubfinance, the product literature shall prevail.

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