TaxPersonal TaxScottish autonomy could double tax burden

Scottish autonomy could double tax burden

Treasury papers show Scottish independence would see businesses hit with £1bn tax bill

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’

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