Posted on 14 February 2011
Cornishman ‘forced’ into Turkey move
Chris Bate, 58, originally from St Kew Highway, near Wadebridge in North Cornwall, has worked in maintenance on the Pencarrow estate near Bodmin for 15 years.
But when he retires, he will lose the property which comes with the job, and he realised he could not afford the high prices of property in the area. He has paid £30,000 for a two-bedroom apartment overlooking the sea in Turkey. He believes a similar property in Wadebridge would cost 10 times that amount.
Mr Bate calculated he and his wife Kit will save £180 a week by living overseas.
Mr Bate, club captain at St Kew Highway Golf Club, said: “I love living in Cornwall. I would never move anywhere else, but financial reasons are forcing me out.”
Careful planning means the couple will have five pensions coming in by the time he hits 65. It will mean an annual income of £13,000, but in the UK he will be taxed 22 per cent on everything over £6,800.
“That’s £1,500 to the tax man every year, and I’ve already paid tax on my earnings once,” he said.
Altogether, he has calculated he would pay out £4,500 each year in Cornwall, compared to the Turkish national insurance payment of about £1,000.
2 March 2009 Western Morning News