General Investment Accounts

General Investment Accounts can be used to invest your money. They are often used in conjunction with an ISA however unlike an ISA or pension, there are no tax benefits or limits on the amount that can be invested. Like other investments the amount and range of funds is extensive and tailored to the level of financial risk you are prepared to take.

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While General Investment Accounts don’t enjoy the same tax advantages as ISAs and Pensions, your annual capital gains allowance can be utilised to avoid or reduce the amount of capital gains tax you may be subject to pay, this is currently £3,000 annually per person.

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General Investment Accounts are flexible and allow withdrawals as well as lump sum contributions, regular contributions and/or no contributions without penalties.

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The value of investments and pensions and the income they produce can go down as well as up and you may not get back the full amount that you originally invested.