Wrap Personal Portfolio
Flexible investing on the Wrap platform to help you meet your goals
The value of your investments can go down as well as up and you may get back less than you paid in. Tax rules can always change in the future. Your own circumstances and where you live in the UK could have an impact on tax treatment.
What is a Personal Portfolio?
Also known as a General Investment Account (GIA), the Wrap Personal Portfolio is designed to hold your investments outside of a tax wrapper such as an ISA or pension. The Personal Portfolio gives you potential for capital growth or income – or a combination of both. It is generally considered a medium to long term investment, which means it is usually held for around five years or more.
The Wrap Personal Portfolio gives you flexible access to the fund selection provided on the Wrap platform and allows you to tailor your investments to suit your goals. There are no charges for closing your Personal Portfolio or transferring it to another provider.
Wrap Personal Portfolio features
- Every Wrap account can hold up to five Personal Portfolios.
- There are no limits to how much you can invest in your Wrap Personal Portfolio.
- You can make lump sum payments and/or regular payments into your Personal Portfolio. You can stop or vary your regular payments at any time.
- You can take regular or one-off withdrawals as and when you need to access your money.
- There are no limits on how much or how often you can withdraw from your Personal Portfolio – however you may be subject to Capital Gains Tax (CGT) if your profit or gain exceeds the annual exempt amount set by the government. See below for more information.
- You have access to over 3000 funds on the Wrap platform and you are free to buy, sell, and switch funds to meet your investments goals. Remember – CGT may apply to any profit or gains you make when selling your investments.
- There are no fees for trading mutual funds within your Wrap account.
- If you hold listed securities, such as equities, there is a charge for selling these types of investments. Please call our customer centre for more information on 0345 279 1001. Call charges will vary.
- Interest is paid monthly on cash held within the Personal Portfolio cash account.
- For charges and interest rate information, please see our Wrap platform charges and interest rates page.
- Capital Gains Tax (CGT) is the tax charged on the profit you make if your investments grow in value.
- CGT is applied if two things are true:
- You realise the gain – if your investments grow and you decide to sell, you have benefited from this gain in value.
- You exceed the annual exempt amount set by the government.
- An example of how this could work is: You purchase Fund A in Year 1 for £1,000. You leave your money invested in Fund A, untouched until the current year, when you sell Fund A completely to cash. After disinvesting, Fund A has generated £15,000 cash. Since you purchased Fund A for £1,000, you have made a gain or profit of £14,000. The annual exempt amount is £12,300 (2023/2024) so you will be due CGT on the value that has exceeded this allowance.
- This is a highly simplified example, as you buy and sells funds and make further contributions, the gain on your investments will be impacted. CGT is a very involved calculation and it is best to speak to an accountant or financial adviser if you would like more information.
- Unfortunately, we cannot provide a CGT calculation for you.
- You can also visit the gov.uk website for more information and current allowance limits.