HMRC said it may obtain the German finance ministry’s details on individuals involved in suspected tax evasion.‘Part of… our reciprocal double taxation agreement with other tax jurisdictions allows for the exchange of information where necessary,’ said a spokesman.

With a reputation as a tax haven for German speakers, Liechtenstein is unlikely to be the first choice for offshore investment from Britain. The Organisation for Economic Co-operation and Development said the disclosures about alleged tax evaders, which have seen former Deutsche post chief executive Klaus Zumwinkel’s house raided, were part of a broader challenge.

‘As long as there are financial centres that refuse to co-operate … residents in other countries will be tempted,’ said secretary-general Angel Gurría.