Budget 2013: Billions to be clawed back as govt 'won't tolerate' tax abuse

Announcing the measures, Osborne said that under the coalition, the 'wealthy will pay more tax than in the last 13 years'.

However commentators believe Osborne's anti abuse tactics might not be as successful as hoped.

Sophie Dworetzsky, partner at international law firm Withers, said: 'While no doubt a popular measure at large, one huge issue is whether these measures really will raise the estimated billions of revenue. 

'It is of course impossible to really gauge how much revenue is lost through evasion, and the expectations may turn out to be optimistic.' 

However, Leo Joyce, a director at Blick Rothenberg, added: 'HMRC's 2013 offshore evasion strategy will continue to make tax evasion more difficult. Affected tax payers should declare sooner rather than later to take advantage of generous disclosure routes.'