RE: I’m curious about the tax situation there in Scotland. How much of that is the Crown going to take?
ACCORDING TO THIS SITE :
http://www.adviceguide.org.uk/scotland/life/tax_scotland/income_tax_rates.htm
Income tax: taxable bands and rates 2010/2011
Taxable income rate of tax
0 - £2,440 10 per cent (starting rate for savings only)
0 - £37,400 20 per cent (basic rate)
£37,401 - £150,000 40 per cent (higher rate)
Over £150,000 50 per cent (additional rate)
Basic rate
Tax is payable at the basic rate of 20 per cent on taxable income up to £37,400.
Higher rate
If you have more than £37,400 but less than £150,000 of taxable income, you will have to pay a higher rate of 40 per cent tax on the amount above £37,400 and below £150,000.
Additional rate
If you have more than £150,000 you will have to pay an additional rate of 50 per cent tax on the amount above this level.
Right. I figured it was quite high. So perhaps they have structured this windfall for her in such a way as to avoid those confiscatory taxes. I wouldn’t assume the managers are cheating her or trying to retain the money for their own management interests.