1 billion pounds red tape cost to business in independent Scotland
Robert Henderson
Telegraph
£1 billion red tape cost to business in independent Scotland Businesses
would be burdened with more than £1 billion of taxation red tape in a
separate Scotland, according to a new Government report.
By Simon Johnson, Scottish Political Editor
Published: 11:59AM GMT 18 Nov 2009
The analysis estimates that the cost to firms of complying with the tax
system would double, if Scotland became independent or was handed full
control of its financial affairs. These two scenarios would mean setting
up a new and separate Scottish tax system, with the costs of compliance
falling “disproportionately” on business. In addition to their own
tax liabilities, companies are responsible for deducting income tax and
National Insurance from their employees’ pay packets. The
administration would be further complicated if they employed people
north and south of the Border, or traded in England and Wales. The
report points out that 65 per cent of Scottish exports are sold in the
rest of the UK, forcing businesses in a separate Scotland to comply with
two different tax regimes.
--
Robert Henderson
Personal website: http://www.anywhere.demon.co.uk
Paul C
<phi...@anywhere.demon.co.uk> wrote:
>
>
>
>Telegraph
>
>�1 billion red tape cost to business in independent Scotland Businesses
>would be burdened with more than �1 billion of taxation red tape in a
>separate Scotland, according to a new Government report.
>
>�By Simon Johnson, Scottish Political Editor
>Published: 11:59AM GMT 18 Nov 2009
>
Shock. UK Government and Torygraph rubbish Scottish independence.
Who would have thought it?
Demon Buddha
> ...independent Scotland
Isn't that a contradiction in terms?