The countdown to the ISA deadline on April 5 has begun, and, as many investment funds have a deadline of before then, the Association of Investment Companies (AIC) is urging investors to “get their skates on”.

There are now less than seven days left until the ISA deadline for 2008/9, and some investment companies’ deadlines are even sooner. However, some online ISA providers allow applications up until midnight on Sunday April 5.

Annabel Brodie-Smith, communications director at AIC said:

“Investors need to get their skates on if they want to use this year’s ISA allowance. It’s important not to get caught out as a number of investment company ISA deadlines fall before this date.

“However, there are some online ISA applications for those investors who are running out of time.”

Both TD Waterhouse ISAs and Barclays ISAs can be applied for online until near midnight this Sunday.

So far this year, TD Waterhouse has received record ISA applications, Angus Rigby, CEO at TD Waterhouse said: “For the second year running we have seen a record number of new ISA accounts, and it is clear that this year’s investors are actively seeking alternatives to cash as interest rates have continued to fall.”

Meanwhile, research from Barclays stockbrokers has found that 66 per cent of investors have invested in an investment ISA this tax year, almost half of which have invested their full allowance of £7,200.

Commenting, Barbara-Ann King, head of investments at Barclays Stockbrokers said: “Our research also shows that nearly one in ten invest a lump sum last minute, and for this reason Barclays Stockbrokers is committed to making sure investors can utilise their full tax allowance as easily and efficiently as possible.”

Compare online ISA deals »

© Fair Investment Company Ltd