Mortgage Interest Relief at Source


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Mortgage Interest Relief at Source

Also called MIRAS. A former benefit in the United Kingdom in which individuals could take a tax deduction for the interest paid on mortgages up to 30,000 pounds (25,000 pounds before 1983). It was instituted to encourage home ownership. MIRAS was established in 1969 and eliminated in 2000.
References in periodicals archive ?
He says ending MIRAS - Mortgage Interest Relief at Source - will slow down the housing boom .
Mortgage interest relief at source (MIRAS) was finally phased out in the chancellor's 2000 budget.
MIRAS (mortgage interest relief at source) is down to 10 per cent on the first pounds 30,000 of your mortgage, with effect from April 6, 1998.
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