Kingdom of Scotland union. In 1707, the two kingdoms were united to form the Kingdom of Great Britain under the terms of the Acts of Union. Following the annexation of the Northern Isles from the Kingdom of Norway in 1472 and final capture of the Royal Burgh of Berwick by the Kingdom of England in 1482, the territory of the Kingdom of Scotland corresponded to that of modern-day Scotland, bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the southwest. The Crown was the most important element of
Acts of Union 1707 known as the Seven ill years which led to strained relations with England. In 1698, the Company of Scotland Trading to Africa and the Indies received a charter to raise capital through public subscription. The Company invested in the Darién scheme, an ambitious plan funded almost entirely by Scottish investors to build a colony on the Isthmus of Panama for trade with East Asia. The scheme was a disaster; the losses of over £150,000 severely impacted the Scottish commercial system. The financial losses incurred have often been suggested as one of the drivers behind Union. Deeper political integration had been