Updated | Salmond, Cameron comment on referendum outcome

With 26 out of the country's 32 council areas having declared, the "No" side has 54 per cent of the vote, with the "Yes" campaign trailing on 46 per cent.

Scotland on Thursday voted in an independence referendum that could break up the centuries-old United Kingdom and create Europe's newest state since the collapse of Yugoslavia. The BBC is predicting on the basis of the result declared so far that the "No" side will win the referendum with 55% of the vote while "Yes" will secure 45% of the vote.

Queues snaked outside polling stations and voters, some wearing traditional kilts and tartan hats, spoke emotionally about the momentous choice they were faced with.

Scottish police are also investigating allegations of electoral fraud in Glasgow.

Officials at the referendum count in Glasgow say they are investigating 10 cases of suspected electoral fraud at polling stations.

Media reports say it relates to incidents where people turned up to vote and were told they had already voted.

David Cameron tweeted at around 5.45am and said that he had called Alistair Darling, the chairman of the Better Together campaign, to “congratulate him on a well-fought campaign”.

Later, in a statement outside No 10,  Cameron said there needed to be a "new and fair settlement" for Scotland as well as for England, Wales and Northern Ireland. He said the aim was to change the government of the UK "for the better".

"Now is the time for our United Kingdom to come together and to move forward."

Speaking at 6.30am, Alex Salmond, leader of the separatist campaign, said he accepted the verdict of the people as he conceded defeat in the referendum on Scottish independence.

However, he said that the people of Scotland had only rejected independence “at this stage”, suggesting he believes that another referendum is possible in the future.

Addressing supporters in Edinburgh, Salmond said, “I accept that verdict of the people and I call on all of Scotland to follow suit in accepting the democratic verdict of the people of Scotland.”

He added, “We have seen a scare and a fear of enormous proportions...at the heart of the Westminster establishment as they realised the mass movement of people that was going forward in Scotland.

"Today of all days, as we bring Scotland together, let us not dwell on the distance we have fallen short; let us dwell on the distance we have travelled.”