Barclays Tax Beater ISA - this year or last year?

Pound

I opened this ISA the day before the deadline. Like a lot of other people I had some problems with this and the account didn't get opened and the money paid in until a month later.

I just got a statement from them and it shows the account was opened on 2nd May and £3K went in on the 3rd May. Barclays have told me that they will backdate the interest to when the account was opened in April and also treat it as being opened in the 06/07 year rather than 07/08 meaning I can put another £3K in.

It's all well and good that Barclays are doing this, but just because Barclays are going to treat it as being paid in last year where do I stand legally with this? If I go to another bank and open an ISA there they will want to know if I've paid any money in to an ISA this year. How can I say I haven't when I have a statement that says £3K went in on 3rd May?

I'm just worried I could end up being done for fraud or something if I'm not careful.

Voyager2002

The simplest thing is to put this year's ISA allowance into the Barclays one as well. They have the highest interest rate around, so it is a bit of a no-brainer really. And of course they understand exactly what is going on with timing (can't say I do!).

RabbitMad

I work for a life assurance company and the rules state that we have to have either the cheque or signed dd mandate by midnight on the 5th of april to be able to set the stocks and shares isa up for the previous tax year. The fact that during the busy time units might not be bought for several days doesn't matter as everything is back dated to 5th April.

However I agree with voyager - pay the cash into your Barclays ISA - it has the best rate.