What is a General Investment Account (GIA)?

A General Investment Account (GIA) is similar to a Stocks and Share ISA in that it is a form of savings kept with a banking institution for a stated period, with the exception that it has no tax-free benefits.  It is a vehicle for housing various investments and is a suitable ‘feeder’ account to fund an ISA and simplifying contributions where the investment size exceeds the annual ISA allowance. Income tax is payable on income in addition you can use your annual capital gains tax allowance. This makes the GIA a tax efficient plan and the average rate of tax on gains is generally low.

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