noun
Definition 1
HM Treasury ('HM' stands for 'Her Majesty's') is the United Kingdom's economics and finance ministry. It is responsible for formulating and implementing the Government's financial and economic policy. The minister responsible for it has the title 'Chancellor of the Exchequer', derived from the old French word 'eschequier' and dating back to Norman times. The Chancellor's official residence is 11 Downing Street, next door to the Prime Minister. Specific tax matters are handled by HM Revenue & Customs (HMRC), which collects the bulk of UK tax and duty. Most of the senior staff of this department are located in the Midland town of Nottingham, over 100 miles from London.
Source: Invertext
Context: The Inland Revenue has won a valuable victory in the European Court of Justice over tax credits on dividends to foreign shareholders - putting an end to corporate claims that could have cost the Treasury more than £100m. Tax specialists said the result, in a test-case involving a Dutch company with a British subsidiary, should halt numerous 'copycat' demands.
Source: Financial Times, 26/09/2003