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HMRC identified opportunities to improve wealthy team effectiveness through enhanced data exchange and global collaboration.

Recommendation
HMRC told us that it wants to ensure that its wealthy team has the enablers and capabilities it needs to be more effective and productive in its work. It said that it is a constant endeavour for it to collect more tax from wealthy individuals because those who deliberately try to evade tax will continue to do so. HMRC told us about the significant opportunities it has identified relating to data exchange, targeting and risking, collaborating globally with other tax jurisdictions, and policy changes that will help it close the tax gap.11 HMRC explained the importance of working with other international tax jurisdictions to increase the exchange of data so that there are fewer places for people to hide their assets. It told us how more data helps it to find out about big offshore balances or companies that are not reporting their income, and that it can use its investigative experts to go after this money.12
Government Response

A response document is linked to this report, dated 15 October 2025. Response attribution to this conclusion has not been verified. Read the response document.

Addressee Bodies
HM Treasury
Timeline
Recommendation age 1.2 yr
Report published 16 Jul 2025