After the highly anticipated second Budget of the year, UK accountancy bodies share their reactions to the announcements from the Chancellor

The government has announced that reforms to the taxation of unincorporated businesses will go ahead in 2024, a year later than originally planned

The Budget confirmed that legislation has been adjusted to allow HMRC to raise discovery assessments into individuals who have failed to report certain tax charges on their self assessment tax returns

The Budget announced that the surcharge for banks will be cut to 3% from the current 8% with the profit threshold at which banks will start paying the top-up rising to £100m from £25m

In the Budget, the rates for dividend tax rises were confirmed from the new tax year in April 2022 to fund the social care levy, announced last month

HMRC is set to receive additional funding to ramp up its anti-avoidance and evasion efforts with the specialised taskforce earmarked to receive a multimillion boost

HMRC will be given a boost with a multimillion investment in IT systems as part of a major modernisation programme

In the budget, it was announced that the taper rate on universal credit will be permanently reduced by 8 percentage points from 63% to 55%

In the Budget, the Chancellor Rishi Sunak announced plans to freeze road tax for HGVs in a bid to offer support to the struggling haulage industry

In the budget, the Chancellor has announced the tax relief of up to 50% for theatres, galleries, and other cultural organisations worth almost £250m

The government will introduce a package of measures to reform the tonnage tax regime from April 2022 to attract ships to register in the UK

After the earlier announcement that a residential property developer tax would help pay for remedial cladding work, the Chancellor confirmed the tax will take effect from April 2022