Scottish autonomy could double tax burden

Scottish businesses could be hit with a £1bn tax bill if the country achieves fiscal autonomy, the BBC reports.

A paper drawn up in partnership with the Treasury and HM Revenue and Customs found that tax compliance costs for Scottish business could double to more than £1bn if a separate Scottish tax system was introduced, “as would be necessary under fiscal autonomy or separation”.

Scottish ministers have contested the claims and believe independence would benefit Scotland.

In response, the Scottish government said in three years to 2007-08 the country ran budget surplus worth almost £2.3bn, compared to a £24bn deficit for the UK.

"These assertions about fiscal autonomy and independence are totally unfounded," said the spokesman.

Read the full story: Independence 'to cost firms £1bn'