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 Standard Deduction and Itemized Deductions. When you file a tax return, you will either take the standard deduction for your filing status, or you will itemize deductions. Find out which is best for you.our total deductions are subtracted from your taxable income in order to determine your total tax bill for the year. Tax credits are similar to tax deductions, but they reduce your tax bill dollar for dollar.