One of the mysteries of the English language finally explained.
(formerly in the UK) mortgage interest relief at source.
- ‘Once tax relief and Miras were removed it was no longer suitable as the main means of repaying a loan.’
- ‘The decreased rate of income tax will cost the Treasury £2.25 billion, but abolition of the married couples allowance and Miras will raise £2.95 billion.’
- ‘But at that time, the first £30,000 of any mortgage - and the majority of those in Scotland - qualified for Miras tax relief, so the real cost of a home loan was even less.’
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