Similar to an ISA, a GIA 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 have an annual capital gains tax allowance of £10,600. This makes the GIA a tax efficient plan and the average rate of tax on gains is low.

Please contact us for further information.