Scottish Referendum
Published byLiam A Entwistle
Scotland’s decision has been “No”.
That news has been clearly received in different ways across the Country. But, now that the result is known, we need to consider - what does the decision mean for Scotland? What does the decision mean for you, or for your business?
Stock markets around the world gave their verdict pretty swiftly - “business as usual”. Sterling rose, shares in Scottish companies rose as financial markets breathed a sigh of relief as stability and certainty returned.
You, as individuals and as businesses, will feel less uncertain. With that uncertainty removed, you can now move forward with investment and growth.
Deals, which have been on hold awaiting the outcome, will now start to take place and new deals will be on the table. Commercial premises will be rented, shops opened and new machinery bought. Staff will be taken on and new markets opened.
Not everything is settled though. There will now be a period of intense political debate while the promised increased powers for Scotland are thrashed out. Amongst these powers, there are likely to be revenue-raising powers and more self-determination. The consultation document will be published at the end of October 2014, with draft legislation expected in January 2015, and likely to be enacted the following May. Scotland could levy a separate income tax rate of up to 10p in the pound from April 2016. That is already an option. WJM will stay close to those developments and keep you informed of how any changes in legislation will affect your life, work and business. WJM will remain “The Place for Practical Advice” throughout this exercise.
Right now, we can help you to move forward with your personal or business plans. We can work with you to help your business grow whether through new premises, acquisition or investment. We can help you to invest any cash reserves you or your business hold and we can help you plan ahead.
Like Scotland, we’re looking forward to getting on with the future.
Liam Entwistle, Chief Executive.
lae@wjm.co.uk
Contact us through: edinburgh@wjm.co.uk or glasgow@wjm.co.uk or inverness@wjm.co.uk
