RE503 - MIRAS: What is MIRAS and how does it work?: Role of SPSS(Bootle)Technical

1999/2000 and earlier years

Savings and Pension Schemes (St John's House, Bootle) administered the operation of the MIRAS scheme. In particular it

• gave advice to MIRAS lenders on the operation of the MIRAS scheme;
• reimbursed lenders the relief deducted at source by borrowers;
• undertook audit inspections to ensure that lenders claimed only the amounts to which they were entitled;
• received from Tax Offices details of loans to be included in, or removed from, MIRAS and sent them to lenders and borrowers;
• made payments to borrowers who had not had the relief to which they were entitled through the MIRAS scheme and who had no net liability to tax, see RE562; and
• gave advice to Tax Offices on points of difficulty. If you need to submit a case include a statement of the facts with the file or papers on the lines of AD2030.