HC Deb 17 February 1977 vol 926 cc302-3W
Mr. Onslow

asked the Chancellor of the Exchequer why he has instructed the Inland Revenue not to allow mortgage interest relief to home-owners who are not in occupation of their property.

Mr. Robert Sheldon

, pursuant to his reply [Official Report, 16th February 1977; Vol. 926, c. 268], gave the following information:

Under the Tax Acts relief is allowed for interest paid on a loan of up to £25,000 to purchase or improve the only or main residence of the borrower, his divorced or separated spouse or a dependent relative. Relieve is also allowed where a property is let commercially but only against the borrower's income from letting. In practice relief is not withdrawn in certain cases of temporary absence from the mortgaged property. I should however be happy to look at any specific case the hon. Member may have in mind if he would send me details.