Keep everything you need close to hand when making the phone call â your UCAS Track number; a handy list of your grades, including your GCSEs; your personal statement; and the universityâs UCAS number, plus also its clearing code. Make notes as you go along.
A tax credit reduces the income tax you pay, while a deduction reduces the amount of your income that is subject to income tax.rom a practical perspective, both tax credits and deductions reduce your tax. The difference between credits and tax deductions centers around their process, not their effect.
â¢ This is a tax credit, rather than a tax deduction. A deduction simply reduces the amount of income that you must pay tax on. A $1,000 deduction, for example, might reduce your tax bill by only $150 or $200.A tax credit, however, directly reduces your taxes, dollar for dollar.. $1,000 tax credit cuts your tax bill by $1,000. â¢ You can claim the credit regardless of your income. A lot of tax breaks have income limits and are not available at all to people with incomes above those limits. The child and dependent care credit does get smaller at higher incomes, but it doesn't disappear.