Investments

A general investment account – also known as a GIA – is a flexible savings account which allows an individual to hold a variety of investments, aside from an ISA or pension fund.

There is no limit on how much you can invest in a general investment account, but you do not receive the same tax benefits as you do with an ISA or pension.

If you have reached your maximum annual ISA savings allowance, a general investment account can be used to invest further funds.

You can invest in shares, funds, investment trusts and exchange traded funds (ETFs) with a GIA.

An ISA – or individual savings account – is a tax-free savings or investment account. ISAs are numerous – with many options to choose from. In fact, there have been so many changes to the ISA rules over the years and so many new ISAs that it is often a struggle to keep up.

The large range of ISAs available includes:

• Cash ISAs
• Fixed rate ISAs
• Stocks and shares ISAs
• Help to buy ISAs
• Junior cash ISAs
• Junior stocks and shares ISAs

Two of the most popular ISAs are cash ISAs and fixed rate ISAs. The terms of each ISA vary, with a maximum annual investment associated with each.