Mortgage Interest Tax Relief (Hansard, 26 July 1984)

§ Mr. Craigen
asked the Chancellor of the Exchequer if he will give the total annual cost of mortgage interest tax relief paid to mortgagors who are taxed above the standard rate for each financial year from 1979–80 to 1983–84.

§ Mr. Moore
[pursuant to his reply, 17 July 1984, c. 131]: The latest estimates are as follows, together with the costs of relief given in excess of the basic rate.

Mortgage interest relief for higher rate taxpayers Relief in excess of the basic rate

£ million £ million

1979–80 200 80

1980–81 300 115

1981–82 450 170

^*1982–83 390 150

^*1983–84 375 140

^* Provisional.

§ Mr. Teddy Taylor
asked the Chancellor of the Exchequer how salary paid up to six months in advance is treated by the Inland Revenue for pay-as-you-earn purposes; and if he will make a statement.

§ Mr. Moore
[pursuant to his reply, 24 July 1984, c. 551]: Tax under PAYE should be deducted from salary paid in advance at the date payment is made.

	Mortgage interest relief for higher rate taxpayers	Relief in excess of the basic rate
	£ million	£ million
1979–80	200	80
1980–81	300	115
1981–82	450	170
^*1982–83	390	150
^*1983–84	375	140
^* Provisional.