HMRC failed to prosecute a British property mogul who did not submit returns or pay any tax for 20 years, it was claimed last night.

Paul Bloomfield, a property investor who was involved in the redevelopment of Wembley Stadium, was a UK resident. But he was not prosecuted for tax evasion despite HMRC concluding he was liable for 20 years’ tax.

Mr Bloomfield was on a list of HSBC clients with secret Swiss accounts. The BBC Panorama programme yesterday revealed the minutes of two meetings between Mr Bloomfield and HMRC investigators in 2011.

Mr Bloomfield told HMRC that, despite his lavish lifestyle, he did not own any property or have any income. The notes of the meeting say: “Bloomfield advised that he has never paid a bill and never received a bill and when he needed money it was sent to him.

“When pressed, Bloomfield confirmed that his living expenses are paid from wherever there is money. In his words there is a box somewhere which contains money and he arranges for the bills to be paid.”

Mr Bloomfield claimed an offshore company paid his rent and that another company paid for “the use of a Boeing 757, the use of a boat and a helicopter”.

Some of the cash came from a Gibraltarian law firm, Marrache and Co, which closed in 2010 after the three brothers who ran the firm were arrested and later jailed for fraud.

He claimed he had lived overseas, as well as in the UK, but the investigator concluded that Mr Bloomfield was resident in the UK and was liable for tax for the past 20 years.