Investment Planning Calculator

Fees reduced the value of your investment and are typically applied as a fixed fee (for example the investment platform that holds your pot) and a percentage fee (for example the cost of fund management or advice), often a combination of both.

See Why Fees Matter for guidance

ISA vs General Account: Key Differences

ISAs (Individual Savings Accounts) and general accounts (also known as General Investment Accounts or GIAs) are two popular options for saving and investing, but they have some crucial differences:

Tax Benefits

The primary distinction between ISAs and general accounts lies in their tax treatment. ISAs offer significant tax advantages, as all returns within an ISA wrapper are free from income tax, capital gains tax, and dividend tax. In contrast, general accounts do not provide any tax benefits, and any profits or income may be subject to taxation based on your personal allowances and tax situation.

Contribution Limits

ISAs have an annual contribution limit, which for the 2024/2025 tax year is £20,000. This limit applies across all types of ISAs you may hold. General accounts, on the other hand, have no restrictions on how much you can deposit or invest.

Account Flexibility

You can only open and contribute to one ISA of each type per tax year. With general accounts, you can open and contribute to multiple accounts with no restrictions.

In summary, ISAs offer valuable tax benefits but come with contribution limits and restrictions, while general accounts provide more flexibility in terms of contributions but lack tax advantages. Many investors use both account types strategically, often maximising their ISA allowance before considering a general account for additional investments