Fraser Campbell, senior Partner and Head of Family Businesses at Campbell Dallas, was a key speaker at a recent Budget Briefing event for businesses in Glasgow. Organised by The Herald, one of the most talked about issues was the widening tax policy gap between Scotland and the rest of the UK.
Fraser said: “We have had discussions with clients worried about the direction of travel in Scotland, both in terms of personal taxation, and other major changes such as the Scottish land and buildings transaction tax, and the fact that Scotland will not be able to adjust corporation tax rates. What does that mean for businesses that may want to take advantage of some of the lower tax regime south of Border? There is a lot of uncertainty and uncertainty leads to different investment decisions. Doing business in Scotland has always been different, but the gap is widening. The overall strategy of the Westminster government is not clear however, the budget appeared to be an advert to come and invest in the UK, and was good news for smaller businesses. Looking ahead, it remains to be seen if that advert applies to Scotland.”