The Treaty of Union had both positive and negative impacts for Scotland until 1715. Some industries benefited from the union, while others suffered from English trade competition and higher taxes.
The 25 Articles of Union of 1707 dealt with such matters as a future parliament, the law, the succession, trade and taxation. Some of the main Articles are listed below.
| Article 1 | Scotland and England were united into one Kingdom, called Great Britain. |
| Article 2 | On the death of Queen Anne, the succession was to pass to the Electress Sophia and her descendants of the Protestant House of Hanover. No Catholic or anyone married to a Catholic could succeed to the throne of Great Britain. |
| Article 3 | There would be one Parliament, at Westminster in London for the whole of Great Britain. |
| Article 4 | There was to be freedom of trade within Britain and its colonies. |
| Article 6 | Customs duties would be the same in Scotland as in England. |
| Article 7 | Taxes on alcohol would be the same in Scotland as in England although there was less tax on beer in Scotland. |
| Article 8 | Scottish salt was granted a tax exemption. |
| Article 15 | A sum of £398,085, 10 shillings (50p), known as the Equivalent, was to be paid by the English Government, mainly as compensation to the shareholders in the Darien Company. |
| Article 19 | Scotland was still to have its own law courts. |
| Article 22 | Scotland was to be represented by forty five members of the House of Commons and by sixteen Peers in the House of Lords. |
| Article 24 | A Great Seal of the United Kingdom of Great Britain would replace the separate seals of both Scotland and England. The Scottish crown jewels were to remain in Scotland. |