On Tuesday (19Jun12), it emerged the funnyman was exploiting a legal loophole to channel money through a company called K2, based on the European island of Jersey, enabling him to pay just one per cent income tax in the U.K.
After Britain's Prime Minister David Cameron branded the comedian's actions ""completely wrong"" on Wednesday (20Jun12), Carr took to his Twitter.com page to apologise for the scandal.
Posting a series of messages on Thursday (21Jun12), he writes, ""I appreciate as a comedian, people will expect me to 'make light' of this situation, but I'm not going to in this statement as this is obviously a serious matter.
""I met with a financial advisor (sic) and he said to me 'Do you want to pay less tax? It's totally legal.' I said 'Yes.' I now realise I've made a terrible error of judgement. Although I've been advised the K2 Tax scheme is entirely legal, and has been fully disclosed to HMRC (Her Majesty's Revenue and Customs). I'm no longer involved in it and will in future conduct my financial affairs much more responsibly. Apologies to everyone. Jimmy Carr.""