General Investment Account (GIA)
A standard taxable investment account with no special wrapper benefits. Useful for investing amounts that exceed ISA and pension allowances, with no limits on contributions.
How It Works
You open a GIA with a broker and invest without limit. Same investments as a Stocks & Shares ISA but dividends, interest, and gains are all taxable. Track gains and report on Self Assessment.
Tax Treatment
Dividends taxed at dividend rates above £500 allowance. Capital gains at 20% above £3,000 exemption. Interest taxed at marginal rate above Personal Savings Allowance. Must declare on Self Assessment.
Tax Advantages
- No contribution limits
- £3,000 CGT annual exemption shelters some gains
- Losses can be offset against gains (unlike ISA losses)
- Transfer to spouse at no-gain-no-loss to use their allowances
Who Is This Suitable For?
Investors who have maximised ISA and pension allowances and want to continue investing. Also useful for shorter-term investments.
Frequently Asked Questions
GIA or ISA?▾
Always maximise your ISA first (£20,000/year). Only use a GIA for amounts exceeding your ISA allowance.
How to reduce GIA tax?▾
Use CGT exemption by selling/rebuying (bed and ISA). Transfer to spouse. Harvest losses. Use tax-efficient funds.
Do I need to report it?▾
Yes — dividends above £500, interest above PSA, and gains above £3,000 must go on your Self Assessment return.