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Independent Schools (Endowments And Covenants)

Volume 981: debated on Tuesday 18 March 1980

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asked the Chancellor of the Exchequer what is the annual tax

Mortgage interest relief (1979–80)*Life assurance relief (1978–79)
Total income rangeAverage mortgage interest relief per mortgagorNumbers claiming reliefAverage tax relief per claimant‡Numbers claiming relief
£'000£'000
Under £1,000
£1,000-£2,000100208630
£2,000-£3,000100140101,530
£3,000-£5,000180880154,380
£5,000-£10,0002303,340205,560
Over £10,0004801,05075800
* The information for 1979–80 relates to all mortgages, not solely to building society mortgages.
† Life assurance relief for 1979–80 is obtained by deduction on payment of the premium and information is not available by range of total income. The latest year for which a distribution of relief by income range is available is 1978–79.
‡Counting married couples as one.