Police are investigating claims that £1.5 million went missing from the accounts of Yes Scotland Ltd, the official 2014 independence referendum campaign organisation with close links to the SNP. Former Nationalist branch secretary David Henry is set to meet detectives this week and provide a dossier of evidence alleging financial irregularities.
Details of the Allegations
Henry, one of the original complainants who sparked the Operation Branchform probe into SNP finances in 2021, visited Edinburgh’s Gayfield Square Police Station on Thursday to file a fraud complaint. He received an incident number and will give a full statement next week, along with documentary evidence related to Yes Scotland Limited’s accounts.
Police Scotland confirmed: “We have received a complaint and inquiries are ongoing.”
The £1.5 Million Discrepancy
The complaint centres on a note in Yes Scotland’s 2014 accounts, published in August 2015, which stated: “Directors have reviewed the accounting treatment of donations received and these are now recognised as income when received. This has resulted in deferred income as at April 30, 2013 being reduced from £878,978 to £nil and has increased other income by £878,978 from £1,524,998 to £2,403,976.” Henry alleges that the £1.5 million figure is unaccounted for, as no “other income” was declared in subsequent accounts.
Henry said: “The numbers don’t match up anywhere and there are a host of other anomalies identified in my evidence and major corrections appeared in the 2015 accounts. Nothing adds up. The Yes campaign took in millions in donations but from 2016 dormant accounts have been submitted with zero balances; the money is just gone. Given what we now know about Peter Murrell’s crimes, there are strong reasons to be suspicious of the finances of any organisation linked to the SNP. Police Scotland must open a new investigation and fully audit Yes Scotland’s books to find out what happened to the missing £1.5 million.”
Political Reactions
Scottish Labour deputy leader Jackie Baillie said: “These are incredibly serious allegations and it is right that they are considered by the police. There are still far too many unanswered questions surrounding Peter Murrell’s fraudulent activities and the secrecy of the SNP.”
Rachael Hamilton, Scottish Conservative deputy, added: “These claims further underline the need for an investigation into the whole Murrell scandal, which John Swinney continues to resist.” Scottish Conservative leader Russell Findlay stated: “Peter Murrell’s crimes were enabled by the SNP’s toxic culture of control and aggressive aversion to basic levels of scrutiny. But John Swinney’s determination to shut down an independent inquiry shows they haven’t learned any lessons.”
Background on Yes Scotland Ltd
Yes Scotland Ltd, a limited private company, was set up by Alex Salmond in 2012 to campaign for independence in the 2014 referendum. Electoral law required it to be a separate legal entity from the SNP. However, insiders have complained that the cross-party campaign, whose advisory board included Greens and Scottish Socialists, was dominated by Nationalists. Murrell’s wife Nicola Sturgeon was given a ministerial role overseeing the referendum in Salmond’s Cabinet.
When active, Yes Scotland Ltd filed unaudited, abbreviated small company accounts. Gordon Millar, a tax and accountancy expert with 40 years’ experience who provided written testimony for Henry’s complaint, said: “Although legal, the format was an open invitation to fraud in any organisation funded largely by small donations.”
Financial Discrepancies and Donations
The only other account of Yes Scotland’s spending is from the Electoral Commission, which reported it spent £1.42 million on campaigning between May 30 and September 14, 2014. However, this did not include staff, general running costs, or campaigning prior to May 30. There is also no concrete figure for total donations. Pro-independence lottery winners Colin and Christine Weir alone gave £3.5 million to Yes, and sources suggest the campaign overall could have received £5 million to £6 million. The Electoral Commission did not require donations under £500 to be declared, and tens of thousands of Scots are thought to have donated.
On Companies House, Yes Scotland Ltd’s registered address is 7/11 Melville Street, Edinburgh – the address for accountants Johnston Carmichael, who resigned as the SNP’s auditors in 2023 over fraud concerns. However, the Sunday Mail understands Yes Scotland Ltd has not been a client of Johnston Carmichael since 2018. The latest set of dormant accounts were published last August, showing nothing in the bank as of October 2024, while a basic confirmation statement was published in April this year.
Responses from Involved Parties
Sean Clerkin, the original complainer over missing ring-fenced money in 2021, said: “I am appalled at what appears to be further evidence of missing money – now from the original 2014 independence referendum. This has to be investigated by Police Scotland without fear or favour.”
The SNP said: “The criminal actions of Peter Murrell were uncovered by a complex and extensive police investigation which found the SNP was the victim of embezzlement.” Yes Scotland stated that all money was accounted for and there was no wrongdoing, claiming the £1.5 million adjustment was due to a change in accountants. It added that Murrell had no access to Yes Scotland’s bank accounts.
