The number of taxpayers admitting to HMRC that they had not paid tax on offshore income rose by 35%, to 4,443 individuals in the last year, up from 3,301 in 2019-20, according to a Freedom of Information (FOI) request by law firm Pinsent Masons. The increase of 1,142 taxpayers brought in 28% more tax with a £12.4m hike on collected tax in a year. 

This figure also includes the number of overseas investors who have admitted to tax evasion in the UK, which has risen from 78 to 338 according to data collected by accountancy firm UHY Hacker Young.