If you’ve used up your ISA allowance, a General Investment Account (GIA) could be the best option for you. Here are the best ones.
A General Investment Account (GIA) is an investment account that’s usually best for those who have already made use of their ISA allowance for the year — if you haven’t, you probably want to see the best Stocks & Shares ISAs instead, as these have a £20,000 annual allowance in which you don’t need to pay tax.
Here are the best General Investment Accounts available to invest with at the moment.
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Here at Be Clever With Your Cash, we’re not regulated to give you financial advice. We aim to give you the facts about a provider or investment but it’s up to you to decide if it’s suitable for you. If you’re looking for more personalised guidance, find a financial adviser who can give you specific advice. Remember that your capital is at risk when investing — don’t invest more than you are prepared to lose.
*New customers get a free tractional share worth up to $115 when you sign up via our link and use the code BECLEVER25
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Additional Info
FSCS Protected: Yes - up to £85,000
ETF trading fee: £0 (FX and fund manager fees may apply)
UK shares trading fee: £0
EU shares trading fee: £0
US shares trading fee: £0
Fractional shares: Yes
Interest on uninvested cash: 2%
Foreign exchange fee: 0.35%
Fund fees: If you invest in funds, you'll have to pay fund fees between 0.03% and 0.78% depending on the funds you choose
Authorised and regulated by the Financial Conduct Authority: Yes: FRN 987226
Offer details: You need to use the code BECLEVER25 to get the free fractional share worth up to $115. Terms apply: lightyear.com/en-gb/signup-promotion-terms.
Capital at risk. The value of investments can go down as well as up.
*New customers get a free fractional share worth up to £100 when you sign up via our link or use the code BCWYC.
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Additional Info
FSCS Protected: Yes
Fractional shares: Yes
Interest on uninvested cash: 4.35%
Foreign exchange fee: 0.15%
Fund fees: If you invest in ETFs, you'll have to pay fund fees depending on the funds you choose
Offer details: To get the offer, you need to open a Trading 212 Stocks and Shares ISA or Invest account and deposit at least £1 within 10 calendar days.
Further details: Remember, the value of any money invested, which includes your free share, could go up or down.
Authorised and regulated by the Financial Conduct Authority: Yes: FRN 609146
Capital at risk. The value of investments can go down as well as up.
You need a Plum Pro account which costs £2.99 per month to start investing in funds.
FSCS Protected: Yes - up to £85,000
Interest on uninvested cash: No
Fractional shares: Yes
Foreign exchange fee: 0.45%
Fund fees: If you invest in funds, you'll have to pay fund fees depending on the funds you choose
Further details: You're limited to 16 funds to invest in, and can invest in the full range of 26 funds with the Premium plan which costs £9.99 per month.
Authorised and regulated by the Financial Conduct Authority: Yes: FRN 900573
Capital at risk. The value of investments can go down as well as up.
*New customers can get up to £200 of free shares when they sign up and invest at least £50 by 30 September 2025. **You can reduce the custody fee to £0 per month when you place more than 3 trades in the previous quarter.
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Additional Info
FSCS Protected: Yes
Interest on uninvested cash: 4.5% on up to £100,000
Fractional shares: No
Foreign exchange fee: 0.70%
Fund fees: If you invest in funds, you'll have to pay fund fees depending on the funds you choose
Offer details: *New customers can get up to £200 of free shares when they sign up and invest at least £50 by 30 September 2025.
Authorised and regulated by the Financial Conduct Authority: Yes: FRN 944492
Capital at risk. The value of investments can go down as well as up.
*You can get £300-£1,500 cashback when you transfer your investments between £20,000 and £200,000
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Additional Info
Trading fees: You get £50 worth of free trades every 6 months. Funds cost £4 per trade and shares cost £10 per trade.
Fund fees: If you invest in funds, you'll have to pay fund fees depending on the funds you choose. There are no platform or trading fees when you invest in Charles Stanley Multi Asset Funds
FSCS Protected: Yes
Fractional shares: No
Interest on uninvested cash: No
Foreign exchange fee: 1.00%
Offer details: The amount you'll get in cashback depends on how much you transfer. A transfer of £20,000 gets you £300 cashback.
Authorised and regulated by the Financial Conduct Authority: Yes: FRN 124412
Capital at risk. The value of investments can go down as well as up.
Platform fees: Fees are reduced the more you invest. You're charged 0.45% on up to £250,000, 0.25% on the next £750,000, and 0.1% on the next £1,000,000. For amounts over £2m there is no charge.
Interest on uninvested cash: 2.53%
Authorised and regulated by the Financial Conduct Authority: Yes: FRN 115248
Capital at risk. The value of your investments may go up or down.
Authorised and regulated by the Financial Conduct Authority: Yes: FRN 984829
Capital at risk. The value of your investments may go up or down.
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What’s the difference between Managed GIAs and DIY GIAs?
A managed General Investment Account is one where you choose what goes into your portfolio yourself. This can be shares, a range of different funds or even commodities or metals. Your portfolio is up to you to manage yourself. Meanwhile, a managed portfolio is one that’s been built already – you’d usually get a choice from several portfolios that you choose based on your risk appetite.
Should I choose a GIA or ISA?
An ISA would ideally be your first choice when you invest, as you get an annual £20,000 tax-free allowance; however, this is shared with any Cash ISAs and Lifetime ISAs you’ve got. With a GIA, you’d only invest tax-free when your earnings are within the Capital Gains Tax allowance of £3,000. There’s also a dividend allowance of £500, so you can earn £500 in dividends before you
This doesn’t mean that you shouldn’t use a GIA, but you’re best making sure you’ve fully used your ISA allowance across savings and investments and invest in an ISA after this. This will reduce the amount of tax you’ll have to pay on your profits.
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