General Investment Account
A General Investment Account (GIA) is a flexible investment that can hold an array of investments; such as funds, shares, investment trusts and exchange traded funds (ETFs) within a single account. Unlike an ISA, there is no limit to the amount you can invest and you pay income and capital gains tax on the money in your investment account.
A Collective Investment Account (CIA) allows you to hold a wide range of collectives (unit trusts and OEICs) outside a tax wrapper in one convenient place. This might be useful if, for example, if you have already fully utilised your ISA allowance.
A CIA will also accept investments by trustees of registered pension schemes such as self-invested personal pensions (SIPPS) and small self-administered pension schemes (SSAS) as part of a client’s underlying retirement portfolio. If you are looking for investment growth, income or a combination of the two, and have a substantial sum of money to invest, this could be a suitable investment. Although it involves more risk than bank or building society account, there is greater potential for growth.
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