Mortgage interest relief at source (MIRAS)

Updated: Aug 20, 2021

A UK tax aUowance by which payers of mortgage interest were allowed to claim part or all of this as a deduction in calculating their taxable income. The relief was given through the lending institutions, so that the borrower paid interest net of tax relief to the lender. The tax allowance was withdrawn in April 2000.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.