The Income Tax (Interest Relief) (No. 2) Regulations 1983
These Regulations supplement sections 26 and 27 and Schedule 7 to the Finance Act 1982, and the Principal Regulations, which provide for a new scheme for giving tax relief on payments of mortgage interest. From April 1983, or in some cases earlier, a person who pays certain categories of loan interest on which tax relief is due will normally be entitled to deduct and retain out of it a sum equal to income tax at the basic rate and the Inland Revenue will pay to the lender the amount of the deduction made.