What’s the difference between a Stocks & Shares ISA and a General Investment Account (GIA)?

There are two main differences between Stocks & Shares ISAs and General Investment Accounts: 

• How much you can invest  

Stocks & Shares ISA: invest up to £20,000 a year (in total, across any ISAs you have) 

General Investment Account (GIA): invest up to £250,000 

• Whether you pay tax on the returns 

Stocks & Shares ISA: any returns you make a tax-free  

General Investment Account (GIA): you may have to pay tax on any returns you make 

Remember, the amount of tax you pay depends on your individual circumstances, and tax rules can change.