The Prudential is to appeal against a decision of the High Court that tax advice given to it by its accountants is not covered by the doctrine of legal professional privilege.
The decision followed an application by HM Revenue and Customs to have advice given by the insurance giant's tax advisors disclosed to them. The judge ruled that the advice given was not privileged unlike advice given by a solicitor. Privileged material cannot be disclosed in connection with court proceedings.
The appeal is likely to be heard in the autumn.