Credit relief

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Revision as of 12:03, 6 July 2022 by imported>Doug Williamson (Add link.)
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Tax.

1.

A valuable type of tax relief given by deducting the amount of the credit directly from the amount of a tax liability.

For example, the deduction of an amount of foreign tax already paid, to directly reduce the amount of a domestic tax liability.


2.

UK personal tax.

Relief for business trading losses, pension contributions and certain other payments for the purposes of calculating UK personal tax credits.


See also