[2001] EWCA Civ 1713.

Court of Appeal (Civil Division).

Lord Phillips MR, Waller and Chadwick LJJ.

Judgment delivered 21 November 2001.

Income tax – Interest – Tax relief – MIRAS – Property purchased with aid of mortgage – Further mortgage taken out to repay existing mortgage and bank loan – Borrower fell into arrears with mortgage payments – Proceedings for repossession of property and payment of arrears – Whether adjustments should be made to mortgage account to reflect fact that MIRAS not allowed since inception of loan – Income and Corporation Taxes Act 1988, s. 374(1)(a), (b).

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