Definition of MIRAS in English:

MIRAS

  • (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.’

Pronunciation

MIRAS

/ˈmʌɪrəs/