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Ask Timpo: Should I become a non-dom?

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A: I understand the frustration of paying tax at 50 per cent but am not willing to miss all the pleasures of living in the UK simply to keep money in the kitty to leave to my kids. I intend to enjoy myself and that means staying at home. 

Financial advisers can come up with an efficient tax plan but only you can decide what you want out of life.

I enjoy the weeks I have in Mustique, but my idea of paradise isn’t sitting by a pool and partying with people planning for a tax free retirement. 

I don’t want to keep in touch with the business by broadband or constantly commute on a private jet. 

It is a question of personal preference. I would rather be in Cheshire than live on The Channel Isles and think playing golf at Delamere Forest is better than Vale de Lobo. 

So although I think a flat rate of tax at 20 per cent would be much better for the economy (and certainly for me) I am happy to stay in the UK, where I can continue to complain about the amount I hand over to the Inland Revenue.

John Timpson runs high-street cobbler Timpson, which has 800 branches nationwide and sales of £150m. Got a question for him? Post it in the comments box below.

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