Figures checked on 24 September 2026
A stocks and shares ISA is an account in which dividends, interest and gains are free of UK tax and don't need reporting. What you can put in is limited: the annual subscription limit is £20,000 for the 2026/27 tax year, shared across all your ISAs, and any part unused by 5 April is lost rather than carried forward. You must be a UK resident aged 18 or over. From 6 April 2027, savers under 65 can put no more than £12,000 of it into cash ISAs; the £20,000 total stays the same.
A general investment account, or GIA, has no limit on what goes in and no tax shelter: dividends above the dividend allowance and gains above the annual exempt amount can be taxed, and losses can be set against gains. An ISA's losses can't. Both can hold the same investments, and stamp duty and foreign withholding tax apply in both: the account changes the tax rules around what you own, not what you own. In the app you set each holding's account on the Portfolio page: the Tax Year widget leaves ISA holdings out of its tax figures, and every other figure is before any tax.
The differences, not the decision. Limits change, so check GOV.UK before relying on them.
Educational content only. It is not personal financial advice.