Credit relief: Difference between revisions
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== See also == | == See also == | ||
* [[Credit]] | |||
* [[Expense relief]] | * [[Expense relief]] | ||
* [[Tax credit]] | * [[Tax credit]] | ||
Revision as of 12:03, 6 July 2022
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.
