The Income Tax (Interest Relief) (Amendment) Regulations 1995
These Regulations make various amendments to the Income Tax (Interest Relief) Regulations 1982 (S.I. 1982/1236) (“the principal MIRASRegulations”) in connection with the administration of the mortgage interest relief at source (MIRAS) scheme. The amendments made by regulations 4 and 5 are in consequence of provisions contained in section 112 of the Finance Act 1995 (c. 4) relating to the recovery of certain amounts deducted by borrowers, or paid by the Board of Inland Revenue (“the Board”), under the MIRAS scheme.