Scottish firms plan rapid response if 'Yes' vote prevails

Scotland's fund industry is lining up tax and legal specialists ahead of the independence referendum, as some predict continuing uncertainty whatever the result.

Should the ‘Yes’ camp prevail in six weeks’ time, firms will be looking for answers on the status of non-domiciled clients, the treatment of investment trusts and double-taxation treaties. Some firms have considered following Alliance Trust in setting up a London subsidiary. However, the deeply political atmosphere in the run up to the vote is causing many to postpone plans until the 18-month negotiating period promised, should the independence camp win. Owen Kelly, chief executive of Scottish Financial Enterprise  – Scotland’s financial services trade body said: “At this stage, peopl...