Effect of Scottish Independence Vote

bigadaj

atush wrote: »

What is he investing in ? I just got one of our pension statements today- up 18% last year.

Presumably you are invested heavily in the us. Tullochs focus is Far East Asia and emerging markets, and over the longer term he has outperformed the market, but these areas have had a real kicking over the last year or so.

incandescent

Like most savers I've spent a lot of time and effort trying to find alternatives to the derisory interest rates offered by bank and building society savings accounts.

The most successful - very successful actually - alternative for me has been to dabble in shares and make regular contributions to a number of funds.

But I'm concerned about what could happen post independence, if the nationalists win. Those funds and shares are invested on the London stock exchange. I have to buy them using GBP and when I sell them, I get GBP back.

So if we end up with a different currency, does that mean I'll have to pay currency exchange fees on every deposit, and then pay them again why I withdraw my money?

This could cost several percent of my savings? And the compounded effect could be massive?

Scottish_Referendum_-_Gov

Hi everyone,

Here is a link to information from UK Government that looks at money and the economy in the context of the referendum.

gov.uk/government/publications/scottish-independence-referendum-money-and-the-economy

Hope you find this helpful.

Archi_Bald

Scottish Referencdum Gov, thanks for the link. Do you know what would happen to ISAs and SIPPs for Scottish citizens if Scotland went independent? It's not covered in the linked doc.

NB. Direct link is https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/297521/FInal_money_and_economy_pack.pdf

planteria

bigadaj wrote: »

That's a bit harsh...

i stand by it. i've never known a politician to be so ignorant. Salmond has a smile, and takes the pass, and enjoys the banter. she's vile. self-serving, agreed. but vile with it. i hope if she gets her wish she'll stay north of the border and leave us alone:T

innovate

planteria wrote: »

i stand by it. i've never known a politician to be so ignorant. Salmond has a smile, and takes the pass, and enjoys the banter. she's vile. self-serving, agreed. but vile with it. i hope if she gets her wish she'll stay north of the border and leave us alone:T

I am sure they speak highly of you too. But I feel it would be helpful if personal likes would be left out of the debate - it's not about how likeable some individuals are, it is about the future of a whole country that will still exist when the individuals have long passed on.

CLAPTON

Archi_Bald wrote: »

Scottish Referencdum Gov, thanks for the link. Do you know what would happen to ISAs and SIPPs for Scottish citizens if Scotland went independent? It's not covered in the linked doc.

NB. Direct link is https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/297521/FInal_money_and_economy_pack.pdf

it's completely unrealistic to expect answers to what will happen to ISAs and SIPPs next year whether there is a yes or no vote

we have just seen unexpected major changes in both in the last budget.

TCA

CLAPTON wrote: »

it's completely unrealistic to expect answers to what will happen to ISAs and SIPPs next year whether there is a yes or no vote

we have just seen unexpected major changes in both in the last budget.

Agreed. But for what it's worth, this is an excerpt from the Scottish Government's White Paper:

"In an independent Scotland, this Government will continue to support existing tax-free savings products, like savings and investment ISAs. Existing schemes will be honoured in full following independence."

That is obviously based on an SNP government being in power, which of course might not be the case.

Archi_Bald

CLAPTON wrote: »

it's completely unrealistic to expect answers to what will happen to ISAs and SIPPs next year whether there is a yes or no vote

we have just seen unexpected major changes in both in the last budget.

The likelihood that all ISAs and SIPPs will disappear between now and 2016, therefore it is totally reasonable to ask what will happen with ISAs and SIPPs that people already have. I presume Scottish citizens will, like other people who are not resident for tax purposes in the UK, will be able to keep their existing ISAs but will be unable to make further contributions. Similar with SIPPs, perhaps. When they come to withdrawing, presumably they would need to withdraw in Sterling and potentially convert it, unless they will spend the money somewhere that accepts Sterling.

These are just my guesses but it would be nice if somebody of authority would describe what will happen. Scottish people who have ISAs and SIPPs want to know.

zee_2

NO WAY an independence vote as NO independence if salmond and co want to break away from UK to go cap in hand to eurozone and beg to join. only people who will gain are the the poor excuse of scottish politicians [except a few who are genuine ] all want to join the 'gravy train' of perks they could gain in the eurozone..have a bar on any scottish MP's joining eu parliment and the uproar would be held across scotland....if the petty expense claims are anything to go by and senior mp's trying to claim personal money spent on expenses , it is a shoddy group who claim to represent scotland.
they slid in by the publics apathy over previous goverment by default , without even a 50% of vote ... but claim to represent Scotland...
I admired SNP in opposition BUT in power they show how power can be used to force political dogma on the general public
next election...SNP no more.