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Our General Investment Account (or GIA) is a flexible way to hold investments, without annual or lifetime limits.
With our General Investment Account, you can invest any amount and withdraw your money at any time. With True Potential Investor, you decide how you want to fund your account:
A General Investment Account is similar to an ISA, but without the tax-efficient treatment of your money. You pay Income and Capital Gains Tax on the money in your investment account, based on your personal tax circumstances. We’ll send you a personal tax report each year to help you fill in your tax return.
If you’re a basic-rate taxpayer, the dividends you receive from holdings in a GIA have a non-refundable tax credit, which satisfies your income tax liability in full. If you’re a higher or additional-rate taxpayer, you may be liable at a higher rate.
Withdrawals from GIAs my be liable for Capital Gains Tax, although you have an annual capital gains allowance of £11,300 in the 2017/18 tax year.
You can open a GIA if you are a UK resident aged 18 or over.
Unlike ISAs and Pensions, General Investment Accounts have no limits on how much you can pay into them and no restrictions on when you can take your money out.
This makes GIAs attractive if:
Some people use GIAs as a ‘feeder’ account for their ISA, transferring their money over as soon as the new tax year begins. You can withdraw from your account at any time.
With investing, your capital is at risk. Investments can fluctuate in value and you may get back less than you invest. Tax rules can change at any time.