Offshore accounts held by UK residents are increasingly being revealed to HM Revenue & Customs, the UK's tax authority, according to a report in the Financial Times. The trend has increased after the Revenue won a court case earlier this month forcing Barclays to hand over details of customers’ overseas accounts. The penalty for non-declaration is the tax due, plus interest, plus a penalty, which can be up to 100 per cent again of the tax due. But reductions in the penalty can be negotiated depending on the level of disclosure and co-operation with the Revenue, according to the FT report. "Anyone who wishes to come clean should contact the Revenue before the Revenue contacts them," Reg Day, head of tax investigations at KPMG, the professional services firm, told the FT. "Those who try to hide tax evasion from the Revenue could find themselves in jail for fraud," he said.