General Investment Accounts
A General Investment Account (GIA) allows the investor to hold investments outside of tax wrappers such as pensions or ISA.
These are useful when your allowances have been utilised for the year. They also offer flexibility and offer access to a wide range of funds.
The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.
For Added Flexibility
GIAs are designed for medium- to long-term investment and are very useful when you have used up other allowances, such as your annual ISA allowance.
They are a lot more flexible than tax wrappers such as ISAs and pensions because there are no investment limits, you can contibute as much as you like, either as a regular contribution or a lump sum investment.
As a GIA is outside of a tax wrapper, there are certain tax implications to be aware of. For example, dividends and interest could be taxable as income if they exceed your dividend and savings allowances. Furthermore, should you disinvest and make a withdrawal, any gains will be subject to Capital Gains Tax (CGT) if the gain exceeds the CGT allowance.
Frequently asked questions
- What is the minimum age requirement for a GIA?
The minimum age requirement is 18 years old.
- I want a joint investment, can I open a GIA with somebody else?
Yes, a GIA can be held jointly.
- What if I invest my money and need access in the short-term?
We understand circumstances can change and therefore your funds are accessible. We just recommend that you investment over the medium- to long-term.
