A General Investment Account (GIA) does not offer any tax efficiency but it is a way to invest if you have used all your ISA allowance. When you invest in a GIA you may pay tax on any income or capital gains you earn from your investments.
Your money is easily accessible and can be withdrawn at any time.
Alternatively, you can invest up to £20,000 each tax year into an investment ISA, where any investment growth is tax-free. If you don’t already have an investment ISA you should consider this before you invest in a GIA.