General Investment Account

There’s no limit to how much you can invest in a General Investment Account, so it’s ideal if you’ve already used your ISA allowance. A General Investment Account has no withdrawal restrictions, but you should be prepared to invest for at least five years.

General Investment Account

A General Investment Account (GIA) is an investment wrapper. It can be used if you’ve already maximised your ISA or pension contributions and have more money to invest. Unlike ISAs and pensions, there’s no limit on how much you can invest in a GIA

There are no restrictions on when you can withdraw money invested in a GIA, but you should be prepared to invest for at least five years.

You can invest in various funds, shares, investment trusts and exchange-traded funds (ETFs).

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FAQ

Frequently Asked Questions

The information provided in these FAQs does not constitute professional financial advice. We strongly recommend that you consult a professional adviser before proceeding with a financial transaction.

How much can I pay into a General Investment Account?

There’s no limit to how much you can invest in a General Investment Account.

Is an investment in a General Investment Account a good idea?

If you’ve already used up your ISA (Individual Savings Account) subscription allowance for the current tax year, and your pensions are fully funded, yes.Bear in mind that the profits you earn on your ISA and pension investments are free from personal taxes, whereas, in a General Investment Account, any gains you make will be assessed for Capital Gains Tax. Any income you earn will be assessed for Dividend Income Tax.

The value of an investment and any income from it may fall and rise, and you may not get back the total amount you invest.

How does a General Investment Account make money?

You can invest in bonds, cash, collective investment funds, ETFs, or stocks and shares via a General Investment Account. Your preferred investments could grow either because the capital value of the investment has increased because your investment has paid a dividend or a coupon which you’ve reinvested or a cash holding has earned interest.

The value of an investment and any income from it may fall and rise, and you may not get back the total amount you invest.

How Is a General Investment Account taxed?

The gains you make in a General Investment Account are potentially taxable. In this context, gains are the profits you earn when you dispose of an investment, either selling it, giving it away, or swapping it for something else.

The gain you make is taxed, not the money you receive. Any gains you earn are added to your income to determine your highest marginal tax rate. If you make a gain which is greater than your annual Capital Gains Tax exemption (£3,000 for the 2024/25 Tax-Year), you pay Capital Gains Tax at the rate of 10% if you’re a basic rate taxpayer or 20% if you’re a higher rate or an additional rate taxpayer.

Dividends earned in your General Investment Account may also be taxable. You don’t pay tax on your dividend income if it falls within your unused Personal Income Tax Allowance (£12,570 for 2024/25 Tax-Year) plus your dividend tax allowance (£500 for 2024/25 Tax-Year). Any dividends earned above these combined thresholds are taxed at 8.75% for basic rate taxpayers, 33.75% for higher rate and 39.35% for additional rate taxpayers (whether reinvested or not). You need to report gains or dividends to HM Revenue and Customs (HMRC) by completing a Self-Assessment form if the amount of your income or gains exceeds your allowances. Similarly, you must report details of any interest received on the cash element of your General Investment Account if it’s greater than your tax allowances.

As it’s possible to incur a tax liability you should ensure you take advice before making any sales from your General Investment Account. Assistance on completing your self-assessment tax return can be found on the HMRC website.

Note that this tax treatment depends on your circumstances and may be subject to change in future.

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