Trusts and Succession (Scotland) Bill: business and regulatory impact assessment

Costs

• Option 1

There are no immediately foreseeable cost implications of Option 1. Notwithstanding, pursuit of Option 1 will lead to a failure to realise the benefits of Option 2, and there could be reputational cost to the Scottish Government should the modernising recommendations of the SLC be ignored.

• Option 2

No significant cost implications are anticipated to result from the introduction of Option 2, other than the minimal costs which will be borne by stakeholders in making their staff aware of the changes to the law affected by the Bill. These types of costs, however, result from any reform of the law. In the case of the Bill, we believe that these costs will be very small and will be massively offset by the financial benefits outlined above.