Build a cash cushion abroad

OWNERS of holiday properties abroad are unlikely to dodge any new Corbyn-devised wealth taxes ... however far away from home their retreat might be.

Although there is limited action to take to avoid a future tax grab – other than disposing of your property now – you could start transferring a bit more cash to a foreign bank account at current exchange rates.

This means you can build a cushion of cash now to help meet future property and living costs should the pound tumble against leading currencies. Alternatively, those with boltholes abroad could consider a foreign currency account they can hold anywhere, such as the ‘borderless’ account offered by Transferwise.

Similarly, travellers can lock into exchange rates when they look attractive by taking out a currency card.

Load them up before departure at the rate of exchange on the day purchased and use them like a debit card in shops and restaurants while abroad. The best include those from WeSwap and FairFX.