§ Mr. Winnick
asked the Chancellor of the Exchequer when it is proposed to adjust the income tax relief on increased mortgage interest rates; and if he will make a statement.
§ Mr. Ridley [pursuant to his reply, 21 October 1981, c. 130]:
Tax offices will shortly be amending the PAYE 340W codes of taxpayers with building society mortgages to reflect the increased tax relief due as a result of the recently announced rise in mortgage interest rates. We intend the revised codes to be available for employers to apply them, at the latest, on the first pay day after 30 November.