EY - Scotland’s Changing Landscape

Scotland’s Changing Landscape

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Finding certainty in uncertain times

The outcome of the Scottish Independence Referendum means Scotland will remain a part of the United Kingdom. However, this ‘no’ vote should not be seen as an affirmation of the status quo.

Through the Scotland Act 2012, Scotland has already received additional fiscal autonomy through the devolution of three taxes:

  • Land and Building Transactions Tax
  • Scottish Rate of Income Tax
  • Scottish Landfill Tax.

From 2015 onwards, these taxes will be collected by Revenue Scotland (85K, September 2014), the newly developed tax collection agency which is now moving forward for royal assent. Secondly, all three major political parties have promised further devolution in varying capacities.

Change is coming to Scotland regardless, and it is imperative Scottish businesses are ready to respond.

Over the last three years, we have remained at the forefront of the devolution agenda through our ongoing research and client work.

In the lead up to the Referendum, we published four survey reports in our Grasping the Thistle series.

We also developed a Referendum Readiness Pack which enabled businesses to identify what they needed to do in the event of constitutional change, and we are now delighted to introduce our Scotland’s Changing Landscape Readiness Review which will help you prepare your business for changes resulting from the Scotland Act and further devolution of taxes.