What is a GIA?
A GIA is a simple way to hold your investments, unlike a Pension and ISA, a GIA offers no tax benefits. Any investment held inside a GIA will be subject to Income Tax at your marginal tax rate and Capital Gains Tax on any growth on the underlying investment over the annual Capital Gains Tax allowance of £12,000 (2019/20).
Why invest in a GIA?
Unlike a Pension and ISA, the GIA has no Annual or Lifetime Allowance restrictions. This can be beneficial if you have used up your yearly ISA and Pension allowance of £20,000 and £40,000 respectively (2019/20).
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