Economy

Mooted tax regime “stifling” hotel investment in Scotland

Founder and chief executive of Chardon Management Maurice Taylor has said that uncertainty over Scotland’s future tax regime is stifling hotel investment in the country.

Citing plans to expand significantly in 2013, Taylor noted that hotel development in Scotland is limited at present because of the uncertainty surrounding the likely tax regime after next year’s independence referendum.

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“Commerce does not like uncertainty, but that’s the situation within which we find ourselves in Scotland at the moment, which is why Chardon is increasingly looking further afield for business opportunities,” said Taylor.

“There is a degree of nervousness amongst investors that, if history was to repeat itself, businesses in Scotland could find themselves subject to higher taxation than elsewhere in the UK in the event of a yes vote in the independence referendum.

Hotel investors have the whole world within which to invest, so why risk their investment in a small country where there is uncertainty about the future tax regime?”

Image: Maurice Taylor.

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