Scottish independence: capital flight, or a wise precaution?

[JustinTime]

I have a substantial retained profit in my Scottish company at the moment, and I'd like to move it out of the reach of the Scottish Government in the unlikely event that they gain independence on the 18th.

Do the panel have any suggestions as to how this can be done?

[northernladuk]

An offshore loan trust will keep it out of their reaches.....

[JustinTime]

An offshore loan trust will keep it out of their reaches.....

Offshore being Devon in this instance?

[Batcher]

Plenty of time.

Independence won't happen on the 19th September, it will be 16th March 2016 so you wil have time to move your money if that's what you want to do.

Although, with Corporation Tax likely to be 2% lower in Scotland, I don't know why you would want to do that?

[JustinTime]

Plenty of time.

Independence won't happen on the 19th September, it will be 16th March 2016 so you wil have time to move your money if that's what you want to do.

I'm just getting in ahead of the rush...
Or should that be 'out'?

Although, with Corporation Tax likely to be 2% lower in Scotland, I don't
know why you would want to do that?

Corporation tax will be the least of the considerations when the wee Eck's New Groats are revalued on the World's markets.

[borderreiver]

Corporation tax will be the least of the considerations when the wee Eck's New Groats are revalued on the World's markets.

Then open a business savings account with an English bank and put your loot there. Don't see any problem TBH.

[eek]

Plenty of time.

Independence won't happen on the 19th September, it will be 16th March 2016 so you wil have time to move your money if that's what you want to do.

Although, with Corporation Tax likely to be 2% lower in Scotland, I don't know why you would want to do that?

Because it will be outside the EU?

[Batcher]

Because it will be outside the EU?

Will it?

[eek]

Will it?

While it's possible it may remain in the eu, the only true answer is nobody knows . Although the discussions I've seen with actual lawyers who know what the treaties actual say imply that it could easily be vetoed if a country or two (Spain, France, Italy) wish to be awkward

[JustinTime]

Then open a business savings account with an English bank and put your loot there. Don't see any problem TBH.

Yes, that might be the simplest option, but I had hoped that there would be a more creative solution. Maybe something that would put some distance between the .SCO and any .UK entity.

Oh well, maybe not.