THE MAJORITY of the top-25 UK firms have pledged funds to fight for the extension of legal professional privilege, Accountancy Age can reveal.
Prudential’s battle against handing over details of tax advice it received from PwC to the taxman will be heard in the Supreme Court.
The ICAEW, which is taking part in the proceedings, has gained pledges from most of the UK 25 biggest firms for a war chest towards fighting the case. The fund will go towards Prudential’s legal fees, Accountancy Age understands.
ICAEW technical manager Ian Young said the firms were supporting an important issue.
“We thought it was a matter for general concern, and them supporting [the Prudential] financiallyshows they agree with us,” said Young.
“It will remain an important issue in relation to changes to the legal services market. Generally it’s the government’s intent not to have anti-competitive things in place in the legal marketplace.”
The hearing is expected to take place towards the middle of 2012.
Picture credit: Jaume Meneses flkr photostream
At HMRC, Dmitri Surendran was responsible for leading the London team of the offshore, corporate and wealthy unit of the fraud investigation service
Richard Kateley of Legal & General discusses the advantages of close cooperation between accountants and financial advisers
The Practitioner becomes frustrated with HMRC's approach to a client's VAT investigation
The firm has made key appointments to its executive team, including a new chief financial officer, and a sales and marketing director