Originally the select committee said it planned to speak to Douglas Flint, HSBC chairman, for 45 minutes.  MPs have now asked Gulliver to attend as well and extended the time allocated for questioning to two hours.

The decision to invite Gulliver follows the discovery that he channelled around £5m of bonuses received between 1998 and 2008 via Panama to a Swiss account. Gulliver said he did so to stop colleagues in Hong Kong where he was working seeing what he was earning. He is also a non dom and when speaking of his tax position said he ‘expected to die abroad’.

Flint, who became the bank’s chairman in December 2010, was previously executive director of risk and regulation and before that HSBC’s finance director. He will face questions over allegations that thousands of UK taxpayers were able to open accounts with its Swiss private bank subsidiary in which they placed undeclared income.

On Monday while presenting HSBC’s latest results, Gulliver and Flint said they were ‘humbled and shamed’ by the tax revelations.

Following on from the two hours spent with the HSBC executives, MPs on the Treasury select committee plan to turn their attention to HMRC’s actions over the information about HSBC accounts which was passed on by a whistleblower via the French authorities.

Lin Homer, HMRC chief executive, has already faced strong criticism from the Public Accounts Committee over the discovery that the department has only prosecuted one individual as a result of information from the HSBC list.

Homer will be joined at the committee by Edward Troup, HMRC’s tax assurance commissioner and Jennie Granger, HMRC’s director general, enforcement and compliance.