{
  "url": "https://openlegislation.uk/income-tax-interest-relief-housing-associations-no-3-regulations-1987/note",
  "json_url": "https://openlegislation.uk/income-tax-interest-relief-housing-associations-no-3-regulations-1987/note.json",
  "legislation": "uksi/1987/404",
  "legislation_title": "The Income Tax (Interest Relief) (Housing Associations) (No. 3) Regulations 1987",
  "legislation_url": "https://openlegislation.uk/income-tax-interest-relief-housing-associations-no-3-regulations-1987",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThe Income Tax (Interest Relief) (Housing Associations) Regulations 1983 (the 1983 Regulations) applied (with modifications) the relevant provisions of the Finance Act 1982 (the tax deduction scheme for giving mortgage interest relief at source) for housing associations.\nThese Regulations amend the 1983 Regulations as a consequence of amendments made to the Finance Act 1982 by section 17 of the Finance Act 1983 and section 37 of the Finance Act 1985.\nThe amendments provide, in relation to housing associations, for the bringing into the tax deduction scheme of all“limited” loans (loans over the qualifying maximum for tax relief) made on or after 6th April 1987 (paragraph (a) of regulation 2) and that where two or more loans are made simultaneously to a borrower by different lenders and the total of them exceeds the qualifying maximum for tax relief the loans are to remain outside the scheme (paragraph (b) of regulation 2).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1987/404/note",
    "retrieved_at": "2026-10-29T16:30:15.731128+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}