GIAs

General Investment Accounts (GIAs)


A GIA, or General Investment Account, is an account which allows you to hold investments outside of tax wrappers, such as ISAs or pensions.  Unlike ISAs, there is no limit to how much you can invest in a GIA.  They can therefore be considered for those who have used up their ISA allowance and who have more to invest.  There are no restrictions on when you can access money invested in a GIA, although generally speaking, longer term investment typically yields better returns.


Depending on the provider, a GIA will typically allow you to invest in a wide range of funds, shares, investment trusts and exchange traded funds (ETFs) and there are no restrictions as to when you can take your money out.


Tax implications


Any dividends received from your GIA investments that exceed your annual, tax-free dividend allowance or available personal allowance will be subject to income tax.  The rate of income tax payable on dividend income depends on the overall level of your income.  Income tax may be payable whether you choose to receive dividend income or to reinvest it.


You will normally need to complete a tax return if any tax is due.


Investments you hold within a GIA will form part of your estate when you die and may therefore be subject to Inheritance Tax.

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