Saturday 3 December 2016

AIB pays up after blunder

Published 15/04/2015 | 02:30

AIB has now repaid the mortgage tax relief it failed to give its customers after a systems blunder
AIB has now repaid the mortgage tax relief it failed to give its customers after a systems blunder

AIB has now repaid the mortgage tax relief it failed to give its customers after a systems blunder.

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The bank had initially planned to pay the money over a year.

But the State-owned bank back-tracked on its initial response after some 1,600 customers lost out on mortgage interest tax relief.

Yesterday it said: "AIB confirms that any outstanding tax relief at source payments due to mortgage customers in February 2015 have now been made, and the bank is writing to impacted customers. AIB regrets any inconvenience caused."

Criticised

The blunder was first reported in this newspaper.

The bank was heavily criticised for saying initially it would spread out the missed tax relief payments over the rest of this year.

But it changed tack after being heavily criticised for setting its own terms for refunding the money.

Central Bank officials said they were monitoring the refunds process.

Irish Independent

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