Budget2012: Self-assessment this year is £3.6bn lower

Self-assesment tax returns came in £3.6bn lower than last year according to the Chancellor in his latest budget.

George Osborne said the study by HM Revenue & Customs revealed today showed that the shift to the higher rate of tax meant that £16bn was shifted from tax payments this year to the year before.

The study also revealed that the revenue raised from increasing the tax on the higher rate payers came in around one third of what was predicted.

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