ISA operative date

Littlebubbly

If I open an ISA on 5 April but don’t put money in until 6 April is it considered an ISA in 24/25 or 25/26 tax year? 

Malchester

It is the funding that counts. I have opened 2 ISAS with Paragon Bank for the coming year with payment into them set up for Monday 7th so will count as 2025/2026 ISA even though accounts are already showing on Paragon website 

slinger2

Littlebubbly said:

If I open an ISA on 5 April but don’t put money in until 6 April is it considered an ISA in 24/25 or 25/26 tax year? 

There's not really any such concept. What matters is when you pay the money in. Anything you pay in from 6 April will count as part of your 25/26 allowance (until 5 April 2026)

Bobblehat

Might the opening date make a difference to which tax year the interest (or part of it) is paid, irrespective of the date the initial funding was made? If it did, would it matter (no tax)!

slinger2

Yes, it could affect that, depending on the T&Cs. However, as you imply, does it matter? There's no tax to pay anyway whether the interest was paid on 4 April or 8 April