A GIA or General Investment Account is typically used for investment after you have maximised your pension and ISA each year.

• Unlike an ISA, you can hold a GIA jointly with others and in Trust.
• They allow you to invest in the same investments as an ISA.
• Investments held in a GIA are subject to Capital Gains Tax (CGT) upon sale or switching investments, A CGT allowance is, however, available that can help to reduce the tax consequences.
• Income from a GIA is taxable as either interest or dividends depending on the investments held. A dividend allowance and income tax allowances can help to reduce the tax payable.
• Often used to ‘feed’ more tax efficient ISAs and Pensions where an investor does not have new cash to invest.
• You can transfer Cash ISAs into Stocks and Shares ISAs and vice versa.
• There is an annual limit on how much you can invest into an ISA and the limit occasionally changes with the budget.