The sharp rise has seen much greater use of HMRC’s worldwide disclosure facility which allows the tax authority to share information with overseas banks, which means tax evaders have few places to hide their money.

Accountants at Lubbock Fine said that HMRC has been stepping up its campaign against UK taxpayers with undisclosed offshore income and gains.

HMRC has been collecting data from overseas banks and fund managers, and then using this information to send out nudge letters to UK residents threatening them with a full tax investigation if they do not voluntarily come forward.