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.
Tax credits, on the other hand, work differently. A tax credit is a dollar-for-dollar reduction of your tax liability. If you're eligible for a $4,000 tax credit, you'll actually get to subtract that $4,000 figure directly from your taxes, thus saving that amount in full. A $4,000 exemption will only save you $1,000.