Mortgage Interest Tax Relief (MIRAS - abolished circa 2001)

futtret

Hi Folks

Homeowners, not just landlords, used to be entitled to tax relief on their mortgage payments, due to interest accrued on their mortgage - aka MIRAS. I believe it was abolished in year 2000. The relief was meant to be applied by the mortgage lender via the amount they asked you to repay.

Does anyone know for sure that the mortgage lenders did in-fact apply this relief? Is there any way to check and find-out? Would it be possible to claim it back if indeed they hadn't applied it (mortgage has since been paid off)??

Thanks in advance for any feedback.

antrobus

futtret wrote: »

Hi Folks

Homeowners, not just landlords, used to be entitled to tax relief on their mortgage payments, due to interest accrued on their mortgage - aka MIRAS. I believe it was abolished in year 2000. The relief was meant to be applied by the mortgage lender via the amount they asked you to repay.

Yes, MIRAS was in existence between 1969 and 2000.

futtret wrote: »

... Does anyone know for sure that the mortgage lenders did in-fact apply this relief?

No. But if a loan wasn't in MIRAS it would have been down to the taxpayer to claim relief from IR.

futtret wrote: »

... Is there any way to check and find-out? .....

You could ask the lender concerned. They might still have the records.

futtret wrote: »

... Would it be possible to claim it back if indeed they hadn't applied it (mortgage has since been paid off)??.

Sixteen years ago. Well beyond the statute of limitations.