Prudential Loses U.K. Top Court Case Over Tax Advice
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The U.K. Supreme Court said tax advice given to Prudential Plc by accountants wasn’t protected by legal privilege and should be disclosed to the British government.
The U.K.’s highest court said only advice from lawyers was protected by the privilege, according to a press summary of the judgment today. When tax authorities asked Prudential for information about a tax avoidance scheme created by PricewaterhouseCoopers LLP, the company argued it didn’t have to hand over any documents containing advice from accountants.