LISA TAX YEAR PAYMENT

nameentered1

Can someone please help/advise.  Last Friday, 3rd April, my son made a payment of £500 from the TSB Building Society into the Skipton BS where his LISA has been held for the last two years.  On checking the payment has gone in against last years tax allowance today, the Skipton have said because it was not received by 5 pm on Friday 3rd it will not count as last years payment and have entered it into his account as this 2020/2021 tax year.  By doing this, my son will lose out on £125 from the Government against his allowance for last years tax year which ended on Sunday, 5th.  I feel this is wrong, the payment was made and transferred to the Skipton on the 3rd, well in time for the Sunday tax year close off but because it was not with them by 5pm Friday, they did not enter the details until today (Monday 6th), they are saying it cannot be added to last years allowance.  Is this correct ?  No where on their site did it say last years payments had to be cleared and received by 5pm Friday 3rd... 

jsinc

Seems to be policy:

https://twitter.com/skiptonbs/status/1245360145720315907

If you google skipton buildng society "friday 3 april" the first result refers to the same info, although the linked page has since been updated.

Alexland

We have seen a few providers implement deadlines that occur before the end of the tax year. Not a lot you can do about it and goes to show why it's not worth leaving these things to the last few days.