General Investment Account (GIA)

A Wombat GIA is a great way to invest outside of your ISA allowance. GIAs are subject to tax, but you can invest an unlimited amount. Start from just £10.

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What is a General
Investment Account?

Unlimited investing

Unlimited commission-free trading of stocks and Themed exchange-traded funds (ETFs).

Tailored options

Open different General Investment Accounts to suit your investment goals.

GIAs are subject to income and capital gains tax. The capital gains tax allowance on a General Investment Account is currently £12,300 (2021/22 tax year). This is the amount of realised profit* you can make in the tax year before it becomes taxable. *Realised profit means gains you’ve converted into cash. Tax rates and reliefs from them can and do change, sometimes without notice.

Taxable

GIAs are subject to income and capital gains tax. What does this mean?

What you get with
a Wombat GIA

Commission-free trading

Unlimited commission-free trading of stocks and funds (ETFs).

Fractional shares

Own part of your favourite brands from just £10.

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Start with £10

Access everything Wombat has to offer from £10 initial deposit.

Easy access

Withdraw your money anytime, with no fees from us.

Investing Account types

More account choice

Choose between an Instant US trading GIA, or Standard ‘Once a day trading’* GIA.

’Once a day’ means your buy/sell orders are executed once a day, regardless of when they are placed  by you. You can make more than one trade a day but all trades will happen at the same time. If you place a trade after the daily execution point, it will be made the next day.

A General Investment Account to suit you

All Wombat plans come with GIAs. See what’s right for your goals.

Instant

Free

Invest instantly in US stocks and shares commission-free.

  • ‘On the spot’ trading
  • No paywalls, trade as much as you like in our portfolio of global stock
  • Unlimited commission-free trading
  • Popular US stocks and shares
  • Instant buy/sell orders
  • Fractional shares from £10
Cashback coin

Standard

£1

Per Month

Build your long-term portfolio with Themed Funds and auto-invest.

  • ‘Once a day’ trading
  • 0.10% platform fee
  • Unlimited commission-free trading
  • Trade US, EU & UK stocks and shares
  • Fractional shares from £10
  • Recurring investments

Remember, your capital is at risk. Foreign exchange fees may apply and the rate of exchange rate may affect the returns you receive.

Wombat Standard ISA/GIA comparison

Based on £10,000 portfolio value

Subscription
£1 per month
£1 per month
£3 per month
-
Platform Fee
0.10%
0.45%
-
0.15%
Fractional Shares
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Themed Funds
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Instant Deposits
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Auto Invest
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Round Ups
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Trade Fee
-
-
-
£7.50
Trade Frequency
Daily
Weekly
Every 5 mins
Daily

Wombat Instant GIA comparison

Subscription
£0
-
£9.99 for all stocks
£0
£0
Fractional Shares
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Instant Deposit
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No Deposit Fees
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Trade Frequency
Instant
Instant
Every 5 Mins
Every 5 Mins
Depends on dealing methods
Execution Fee
-
£9.95
-
-
£11.95
Trading Paywalls
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Inactive Fees
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Cashback
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What is cashback, you ask?

Boost your portfolio every time you invest with our Instant plan. Get up to £100 cashback on each buy straight into your Wombat cash account. See the full Terms and Conditions here.

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*The fees you pay are usually based on your portfolio value, the funds you hold, the types of stocks and shares you trade and how often you trade them. We’ve attempted to provide you with the most comprehensive comparison possible, but you need to bear in mind suitability to your individual circumstances. Wombat do not offer financial advice. Comparisons based on pricing and costs published by each brand on their respective websites as of 16 February 2022. This information is for illustrative purposes and you should check the relevant website for most up to date information.

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Frequently asked questions​

What is a GIA?

A General Investment Account is a standard investing account which is NOT tax-free. This means that you are liable to pay taxes on your investments. However, there is no limit to how much you can invest, or how many GIAs you can have.

Which account is right for me?

Generally, we would recommend using an ISA if you are able to. This means, if you haven’t yet opened or funded a Stocks and Shares ISA this tax year, and if you haven’t used your £20,000 ISA limit. A GIA is a great choice if you HAVE already opened or funded an ISA elsewhere, or if you’ve reached your £20,000 ISA limit.

Do i need my National Insurance number to open a GIA?

A National Insurance Number is required to open a GIA Wombat Account.

What is capital gains tax?

Capital gains tax is what you will pay if any gains above £12,300, subject to having no other investments.

Your capital gains tax allowance includes all the realised gains you make across any investments you’ve sold that year (i.e. stocks and funds, but also rental properties or art). If your total net capital gain for the year is within the government allowance (£12,300 in the 2021/22 tax year), it’s tax-free and there’s no need to report it.

Significantly, any capital losses you’ve realised that year (i.e. investments you’ve sold at a loss) count against your gains, which could keep you under the allowance. For instance, if in a tax year, you sell one investment at a £30,000 gain and another at a £18,000 loss, your net capital gain is £12,000 and under the allowance.

Capital gains tax is calculated on the gain from the original date of purchase, not the growth of your portfolio year-to-year. If you’re planning to invest for the long term, compounding means £12,300 becomes an achievable gain on comparatively small initial investments.

Any gains over the capital gains tax allowance of £12,300 should be declared on your annual HMRC self assessment tax return.

Invest, save and grow your money

One app for your instant trading and long-term investment goals. Invest in the brands that matter to you with global stocks, auto investing and more.

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Trust Pilot rating of Wombat invest

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Remember, your capital is risk.

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