RE500 - MIRAS: What is MIRAS and how does it work?: What is MIRAS?

1999/2000 and earlier years

MIRAS stands for Mortgage Interest Relief at Source. The MIRAS scheme enabled borrowers to get tax relief on mortgage interest at the time the interest was paid. Where the MIRAS scheme applied relief was not normally given in an assessment or PAYE coding. The vast majority of home loans from building societies, banks, insurance companies, friendly societies and other lenders were within the MIRAS scheme.

Relief under MIRAS for home loans was withdrawn with effect from 6 April 2000