Switzerland and Britain have agreed a deal to tax money kept by British residents in secret Swiss bank accounts, which will gift a windfall to the cash strapped British government and helps the Alpine country's banks come clean on untaxed accounts.

The UK taxman has uncovered 500,000 people with money in offshore tax havens who could face severe financial penalties if they have used them to evade tax.

New task forces to tackle tax dodgers have been created by HM Revenue & Customs (HMRC) to undertake intensive burst of activity in specific sectors.

The Organisation for Economic and Cooperation Development has published two new reports in its assessments of countries’ frameworks for facilitating the tackling of tax evasion through tax information exchange.

The tax authorities in the United States are considering tougher measures to crack down on expats who do not declare their taxes, it is claimed.