The leaking of 11.5 million files belonging to Panamanian offshore law firm, Mossack Fonseca, presents HMRC with a golden opportunity to target wealthy UK taxpayers, private client specialists have warned.

Fiona Fernie, head of tax investigations at international law firm Pinsent Masons says: “Any information which suggests UK-based individuals are involved in tax evasion through Panamanian structures is likely to lead to a burst of investigative activity by the Revenue- it is likely they will look closely at anyone named in the data.

“The Revenue now has a good amount of e...