On 18 September 2014, Scotland will hold a referendum on whether it should be an independent country. This Library Note updates a previous Library Note, published on 27 January 2014, on the subject of the possible consequences of a ‘Yes’ vote. The Note aims to provide broad discussion of some of the main issues raised in connection with the subject, and lists possible sources for further reading. It is split into four key areas: possible constitutional changes, the economic impact, defence and security, and health and education. The section on the constitution includes an overview of the proposed “interim constitution” for Scotland published on 16 June 2014. In addition, the final section of this Library Note briefly considers the possibility for further devolution in the context of a ‘No’ vote. The House of Lords is scheduled to debate the constitutional future of Scotland, in light of the independence referendum, on 24 June 2014. This date will also include debate upon the House of Lords Select Committee on the Constitution report, Scottish Independence: Constitutional Implications of the Referendum.