Ernst & Young has claimed that just a 'few hundred' people have so far taken advantage of HM Revenue & Custom’s offshore savings amnesty.

Tens of thousands of people have until 22 June to either tell HMRC they owe tax or face substantial fines and possible criminal prosecution.

The Revenue said it had received a 'steady' response to its amnesty.

But Chris Oates, partner in tax risk management, at Ernst & Young told BBC News that the numbers of people responding was much less than anticipated.

‘The contacts I have across the major accountancy firms indicate that just a few hundred people have actually notified the Revenue that there is tax to pay,’ Oates added.

Further reading:

Banks reveal offshore company and trust details to HMRC

Institutes criticise lack of publicity for amnesty

VIPs to face HMRC's wrath after amnesty