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Statutory Instruments

1989 No. 1932

INCOME TAX

The Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1989

Made

19th October 1989

The Treasury, in exercise of the powers conferred on them by section 376(5) of the Income and Corporation Taxes Act 1988(1), hereby make the following Order:

1. This Order may be cited as the Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1989.

2. The bodies named in article 3 below are prescribed for the purposes of section 376(2) of the Income and Corporation Taxes Act 1988 and shall become qualifying lenders with effect from the dates and in respect of the loans specified in the following paragraphs-“

(a)with effect from the thirtieth day after the making of this Order, in relation to new loans (that is loans which are made on or after that day);

(b)with effect from the making of this Order, in relation to transferred loans (that is loans transferred from another qualifying lender on or after the making of this Order the interest on which is at the time of transfer relevant loan interest payable by a qualifying borrower);

(c)with effect from the 6th April 1990, in relation to other loans made by the body concerned before the thirtieth day after the making of this Order.

3. The following are the bodies referred to in article 2 above-“

  • Albion Home Loans Limited

  • Bradford & Bingley Homeloans Limited

  • Bradford & Bingley Homeloans Management Limited

  • Bradford & Bingley Mortgages Limited

  • Bradford & Bingley Mortgage Management Limited

  • Cardmead Limited

  • Central Mortgage Finance Limited

  • First Mortgage Securities (NO. 17) Limited

  • First Mortgage Securities (NO. 18) Limited

  • First Mortgage Securities (NO. 19) Limited

  • First Mortgage Securities (NO. 20) Limited

  • First Nationwide Limited

  • Gracechurch Mortgage Finance (NO. 3) Limited

  • Grainsway Limited

  • Granamore Limited

  • Gunnton Limited

  • Halifax Loans (NO. 2) Limited

  • Halifax Loans (NO. 3) Limited

  • Halifax Loans (NO. 4) Limited

  • Household Finance Limited

  • Kleinwort Benson Investment Management Limited

  • Leeds and Holbeck Mortgage Corporation Limited

  • Maes Funding NO. 3 Limited

  • Maes Funding NO. 4 Limited

  • Maes Funding NO. 5 Limited

  • Maes Funding NO. 6 Limited

  • Maes Funding NO. 7 Limited

  • Maes Private Funding NO. 2 Limited

  • Maxpine Finance Limited

  • McPhoy Finance (Eurowest) Limited

  • Mortgage Asset Management Limited

  • Mortgage Services Limited

  • Mortgages Scotland plc

  • Nationwide Financial Service Limited

  • Nationwide Home Loans Limited

  • Nationwide Insurance Service Limited

  • Nationwide Mortgage Corporation Limited

  • Nationwide Property Services (NBS) Limited

  • North West Investment Company Limited

  • Nurange Limited

  • Nykredit

  • Orbit Housing Association

  • Orion Royal Bank Limited

  • Peaktons Limited

  • Post Office Finance Limited

  • Rinton Limited

  • Rucome Limited

  • Saw Mortgage Company Limited

  • Secondary Marketing Investment Conduit Limited

  • Temple Court Originations Limited

  • Temple Court Mortgages (No. 1) Limited

  • Temple Court Mortgages (No. 2) Limited

  • Temple Court Mortgages (No. 3) Limited

  • The Housing Finance Corporation Limited

  • Universal Credit Limited

  • Wernton Limited

John Taylor

Kenneth Carlisle

Two of the Lords Commissioners of Her Majesty's Treasury

19th October 1989

Explanatory Note

(This note is not part of the Order)

By article 2, the bodies named in article 3 are prescribed as qualifying lenders so that interest on qualifying loans made by them may be paid to them under deduction of tax under the mortgage interest relief at source scheme (MIRAS) (introduced by the Finance Act 1982 (c. 39)) from the dates specified in the Order.

Previous Orders which are in force are S.I. 1983/1907, 1984/1945, 1985/1697, 1986/386, 1440 and 2191, 1987/1224 and 2127, 1988/781 and 1962 and 1989/908.

(1)

1988 c. 1.

(2)

Section 376 was amended by paragraph 115 of Schedule 17 to the Housing Act 1988 (c. 50).

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