VCT
REBATE TERMS
1. General
These Rebate Terms set out the circumstances under which Sidekick Money Ltd (Sidekick, we, us) may provide rebates to customers investing in Venture Capital Trust (VCT) products. These terms apply alongside our investment management agreement (IMA) and platform terms (General Terms), which govern our broader relationship with you on the Platform (accessible via our website or app).Sidekick Money Ltd is a company incorporated under the laws of England and Wales (company number 13882890), with its registered office at Arnold House, 21-33 Great Eastern Street, London, EC2A 3EJ. We are authorised and regulated by the Financial Conduct Authority (firm reference number 984829).
2. Rebates through our platform
We partner directly with Venture Capital Trust (VCT) Managers to provide access to VCT products. Upon investment, your relationship with the VCT fund will be governed by the relevant offer prospectus and associated offer documents. You can only invest in VCT s and benefit from the rebate policy if you agree to the VCT Managers’ Terms. To invest in VCTs and benefit from rebates, you must maintain an active Sidekick account and wallet, which is powered by Currency Cloud Limited (TCCL). For details on your wallet and its operations, refer to TCCL's terms of use (TCCL Terms).
3. Types of rebate
On certain VCT products, Sidekick may rebate a portion or all of the commissions paid to Sidekick by the product provider, at our discretion. The structure of rebates will vary across VCT products, and customers may receive different forms of rebate payouts based on the type of commission being rebated. The two key rebate types are:
- Rebates on Initial Application Fees: These will be applied upon your investment and redeemable in the form of additional VCT shares, where applicable.
- Rebates on Trail Commissions: These will be calculated annually based on Sidekick’s commission (after VAT , if applicable) and paid into your Sidekick wallet. These fees maybe based on the net asset value of your shares over the rebate period, or on your application amount upon subscription. Each fund may calculate these fees differently, and we will strive to provide clarity where possible.
All commissions received by Sidekick are the property of Sidekick until rebated to you, if applicable. Sidekick may defer payment of rebates until the relevant statements are received from the product provider to confirm the applicable clients and amounts.Sidekick's rebates are paid out of the commission received from product providers, and rebates will not exceed the total commission received.If any deviation on the rebate format occurs as a result of the product provider’s commission structure, Sidekick will notify customers of this change on a per product basis.
4. Conditions to Receive Rebates
To be eligible for rebates, you must:
- Maintain an active Sidekick account;
- Remain invested in the VCT product;
- Retain beneficial ownership of the VCT shares.
Failure to meet any of these conditions may void your eligibility for the rebate.
5. Payment Frequency and Dates
Commissions are generally paid to Sidekick by the product providers annually. Payment dates may vary depending on the VCT Manager. Sidekick will make every effort to pay applicable rebates to customers shortly after receiving commissions.
6. Taxation
You are responsible for determining any tax liability arising from rebates received and for reporting and paying such taxes. Sidekick is not obligated to calculate, collect, report, or remit taxes related to rebates on your behalf, though we may report certain rebate-related information to tax authorities in the UK or overseas. Seek specialist tax advice if you are unsure of your tax liabilities.
7. Changes to these Terms
We may modify these Rebate Terms at any time by adding, removing, or altering rebates or by changing how and where rebates are paid. Notice of changes will be provided via secure message on the Platform at least 14 days before changes take effect, or 30 days’ notice if the changes are disadvantageous to you.
8. Governing Law
These Rebate Terms are governed by English law. Disputes will be handled by the courts relevant to your location within the United Kingdom (England and Wales, Scotland, or NorthernIreland).
9. Regulatory changes
If regulatory changes affect Sidekick’s ability to receive renewal commissions, we may cease paying rebates related to those commissions. Sidekick will inform you of any such changes.
10. Conflicts of Interest
If regulatory changes affect Sidekick’s ability to receive renewal commissions, we may cease paying rebates related to those commissions. Sidekick will inform you of any such changes.
