The Netwealth General Investment Account

A GIA is a taxable investment account which can be used for both regular savings and one-off investments.

The minimum amount to open a Netwealth account is £50,000.  This is across all account types.  The minimum portfolio size within a GIA account is £5,000.

Yes, at the end of each tax year we will provide you with a fully comprehensive tax report to allow you or your accountant to complete your self-assessment tax return.  You can also request an ad hoc version at any time via our Tax Allowances and Services dashboard to monitor this during the year.

UK residents have an annual tax-free allowance for capital gains for 2020/21 of £12,300.  Any realised gains above this threshold within your taxable investment portfolios are either taxed at 10% for basic rate taxpayers or 20% for higher rate and additional rate taxpayers.  Because you cannot carry forward any unused allowance, holding investments for a long period without realising any capital gains could mean you are not maximising your annual tax allowances.  It may result in you paying more capital gains tax when you do come to withdraw your funds.  To avoid this and make the most of your tax-free capital gains allowance each year, we offer to review unrealised capital gains and harvest these where appropriate to offset against your tax-free allowance.

If you have unrealised capital gains within your General Investment Account, we may be able to harvest capital gains for you, that can be offset against your tax-free allowance for the current tax year. This would involve selling assets in your Account that have increased in value to realise the gains. By switching you into substitute assets that provide you with similar market exposure, we would aim to retain the same asset allocation within your Account; then, at a later date, we would sell these substitute assets and return you to the standard portfolio exposure.

In a similar way, we are also able to realise capital losses when available to offset gains you may have made away from Netwealth.

Yes, you can set up an annually recurring subscription to subscribe your ISA at the start of each tax year or you can request a one off or partial subscription at any time during the year.

Yes, you can also set up annually recurring and one-off JISA subscriptions from your GIA.

These are also globally diversified portfolios but with a larger relative exposure to their base currency markets.

You are free to withdraw your money from your Netwealth General Investment Account at any time.  You can also set up regular monthly withdrawals to take an income from your account or to cover costs.  Please allow 6-7 business days from the date of instruction for the money to arrive in your nominated bank account.

Yes, on request we can carry out FX transactions on your behalf.  We will always need to pay to a nominated bank account in your own name or joint names regardless of the currency.