You can invest in our Managed Portfolios through a General Investment Account (GIA). GIAs are more flexible and have fewer rules than ISAs and SIPPs but are also less tax efficient.
When you invest through a GIA:
- There is no maximum limit on how much you can invest
- Once invested, you can use your annual allowance for tax-free dividends and tax-free gains, the rest is subject to tax
- You remain in control: you invest for the long term but can take money out if you need
Any money you contribute will be wholly invested in the portfolio you choose.
Important: The information on this website is for experienced investors. It is not a personal recommendation to invest. If you’re unsure, please seek advice. Our Managed Portfolios are long-term investments which can fall as well as rise in value and returns are not guaranteed. Tax rules can change and benefits depend on circumstances.
GIA – your questions answered
How much can I subscribe?
The minimum investment in the Quality Shares Portfolio is £10,000. The minimum investment in the Wealth Club Portfolio Service is £100,000 in aggregate (across SIPP, ISA and GIA). There is no upper limit on how much you can invest.
Investing in the GIA could be a consideration for those who have used up their ISA and/or pension allowances.
What are the tax benefits?
Unlike ISAs and SIPPs, GIAs do not benefit from a preferential tax treatment.
Any dividends paid, even if re-invested, may be subject to dividend tax, after the tax-free dividends allowance is used up.
In addition, some income from overseas shares is subject to withholding tax (e.g. for US shares this is at a rate of 15%). This can be offset against the dividend tax on your tax return.
Meanwhile, any realised gains, including those resulting from rebalancing the portfolio, may be subject to capital gains tax, after the standard capital gains tax-free annual allowance is used up. Rebalancing is likely to take place once or twice a year.
The rate of tax you pay depends on circumstances and tax rules can change in future.
When and how can I make withdrawals?
Investing in our Managed Portfolios should be considered a long-term investment. However, if your circumstances change, you may request for a withdrawal at any time – partial or in full.
Withdrawals may be subject to tax.
Where will my GIA be invested?
Any funds you contribute to the Wealth Club GIA will be invested in the portfolio you choose.
What are the charges?
Please see the Schedule of Charges in our Terms and Conditions. There are no set-up fees. You only pay the investment charges for the Managed Portfolio you choose, as listed in the relevant Factsheet. These include an ongoing manager fee, an ongoing custody fee, dealing fees and, where applicable, underlying fund fees.
Can I transfer an existing GIA with another provider to the Managed Portfolio?
Whilst there is no transfer option, you could consider selling your existing investments held in a GIA elsewhere and use the proceeds to subscribe to one of our Managed Portfolios. You should be aware of any tax implications of selling down your existing portfolio before doing this.
What happens to my GIA when I die?
On death, GIAs can be passed on to any beneficiaries you elect in your Will. GIAs are considered part of your estate, so may be subject to Inheritance Tax.
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.