- If you have used up your annual Isa allowance, you may hold investments in a general investment account
- Selling assets at the right time can help to make the most of the CGT allowance
- Some platforms offer cheap general investment accounts
Investing within a tax-efficient wrapper is one of the key ways to reduce your tax liability, for example, making full use of your £20,000 individual savings account (Isa) allowance every year, if you can, and regularly contributing to pensions. But there are a number of circumstances in which you may have to hold some of your investments within a general investment account (GIA).
If have used up your Isa allowance and you have more money to invest, you may need a GIA. And even if you have allowance remaining, if you receive a large lump sum you may not be able to put it into your Isa all in one go.