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.
All credits and deductions carry limits. Some carry a specific dollar limit. For example, the child tax credit cannot exceed $1,000 for each child. Other credits and deductions are limited by your income. For example, you can typically claim charitable deductions up to 50 percent of your adjusted gross income. Still other credits and deductions have specific limits for taxpayers whose adjusted gross income falls within certain ranges.