Good question. Ostensibly the reason UB are giving is that they are doublng the payment to account for the fact that they can't predict the future interest rates. They are using a rate yield curve to guesstimate what the interest rates will look like.
First time poster ,,,,,,,, received this reply back from revenue regarding the tax implications with the ex gratia payments ,,,,,,,,,,,,,,,
With regard to the ex-gratia payment from Ulster bank, we would need more information in order to answer your query. Is this amount that you expect to receive a payment or a refund?
Can you please get a letter form the bank detailing what the payment relates to and you can upload a screenshot of the letter through My Enquiries so that we can review it for you.