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.
The credit is deducted from your income taxes, reducing the amount of income taxes you are responsible for paying, not a credit that comes off the price of the car at the time of purchase. For example if you owed $10,000 in income tax, and your tax credit for your hybrid vehicle is $3,000 your tax responsibility would be $7,000. Promotes Sales and Innovation of HEVs The tax incentive benefits not just the individual taxpayerâs wallet, but also increases consumer demand for cleaner burning and more fuel efficient technologies in the automotive industry.