I would just like to use this thread to send my thoughts to the family left behind after this tragic accident.
Rest In peace Colin McRae MBE 1968 - 2007
Mr McRae, who is married with two young children, was Britain's first rally world champion in 1995 and is the son of five times British rallying champion Jimmy McRae.
Mr McRae admitted to enjoying the adrenaline rush of activities such as bungee jumping and was a keen pilot.
He moved to the principality of Monaco in 1995, partly through his friendship with David Coulthard.
But as his family grew up, he spent more time back at his home in Lanarkshire. He and his wife Alison bought the 17th century Jerviswood House.
Rev Bryan Kerr, minister of Lanark Greyfriars Church and a neighbour of the McRae family, said: "A lot of people have been stunned by this and our thoughts go out to all of the families affected.
"This will be hugely devastating, particularly in such a small community. You just don't expect these things to happen on your doorstep especially when it is someone who is so well known and well liked in the town.
"The town's ministers have spoken to each other and special prayers will be offered for all those affected by the tragedy and remembering those who are working on the rescue efforts and trying to piece together what happened."
First Minister Alex Salmond said: "Colin McRae was an outstanding Scottish sportsman of international stature and achievement.
"His death is a great tragedy, and my thoughts and condolences are with all the families and friends bereaved by this terrible accident."
His brother, Alister, is also a professional rally driver and has enjoyed some success, including winning the British Rally Championship in 1995.
Mr McRae's sister is a doctor at the University Hospital in County Durham and she too enjoys rally driving.
He also achieved wider fame by endorsing a range of successful video games. Codemasters released the first Colin McRae Rally title in 1998.
'Colin McRae: DiRT' was the title for the latest instalment of the games series which launched this year on PC, Xbox 360 and PlayStation 3.
Stars from the world of motorsport have been paying tribute to Mr McRae.
Fellow Scot and Formula One ace David Coulthard, said: "He and Alison were good friends and I cannot imagine either without the other.
"He was fearless, flamboyant, blindingly quick in the car. "We had some great times and his passing is a terrible blow for the McRae family and everyone who came in contact with him."