Originally Posted by
rcspeirs
"priced as Anytime fare regardless when I touch-in."
That's true and affects what you would be charged if your only journey was from LHR into central London. But for capping purposes, the time of first journey is the relevant criterion..
The all day cap and the off peak cap are separate. Having a morning peak journey does not invalidate the off-peak cap applied to later journeys during the day, although the morning peak journey will be charged separately.