ï± Home-owners still qualify for the Standard. Mortgage Interest Deduction. ï§ Instead of receiving the mortgage interest. deduction on 100% of the interest paid each. year, they receive it on 85% of the interest. ï§ Tax deductionâ is only a percentage. savings, while Tax Credit is a dollar for dollar. ï± Value of MCC will be considered by the.
Universal Time. Universal Time (UT) is a time standard based on Earth's rotation. It is a modern continuation of Greenwich Mean Time (GMT), i.e., the mean solar time on the Prime Meridian at Greenwich, London, UK.
A UTR (Unique Taxpayer Reference) number is a 10 digit number that is unique to either you or your company. It identifies you personally with HMRC for things related to your tax obligations. Youâll automatically get one when you register for self assessment or set up a limited company.