Taxman is accused of acting like the 'Stasi' after HMRC demands hundreds of super-rich Brits reveal what they own

HMRC could extend the letters to around 850,000 people earning £200,000 a year or holding assets above £2m, roughly 1.5 per cent of the population. Officials from its 'Wealthy Team' are demanding details of properties, trusts, companies and family offices. The three-page letter requests a meeting with each recipient. One billionaire recipient warned: 'This will only encourage more people to leave.'

The letter warns compliance checks may follow, but 'speaking with you first may help avoid this'.

Kelly Greig of law firm Kingsley Napley says clients received letters marking a 'sea change'.