Jimmy Carr Speaks Out On Tax: 'I Pay All I Have To, Not A Penny More'

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UPDATE: Jimmy Carr apologises for "error of judgement" over tax affairs

Jimmy Carr has broken his silence over claims he dodged tax, insisting: "I pay what I have to and not a penny more."

The funnyman is said to have used an aggressive - but legal - tax-avoidance scheme which enables members to pay income tax rates as low as 1%.

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Jimmy Carr - "I Pay The Tax I Have To"

Jimmy, who has famously lampooned fat cat bankers, reportedly protects some £3.3 million a year by channelling cash through Jersey-based company K2 which then returns the money in the form of a loan. This is not subject to income tax.

MORE: Watch Jimmy Carr Lampoon The Fat Cats... Before He Joins Them

He spoke out amid claims that members of Take That - Gary Barlow, Howard Donald, Mark Owen and their manager Jonathan Wild - invested at least £26 million in another scheme run by Icebreaker Management Services.

ON THE BLOG: Satire, Hypocrisy And The Whole Jimmy Carr Furore

Jimmy was confronted over his own financial arrangements during a show in Tunbridge Wells, in Kent.

Challenged by a member of the audience who told him "You don't pay tax", he replied: "I pay what I have to and not a penny more", The Times reported.

It came after he appeared to make light of the furore surrounding his payments to HM Revenue and Customs (HMRC). He asked: "Got through the papers? I haven't really been through the papers today. The Murdochs are after me..."

Carr is said to be one of more than 1,000 beneficiaries who shelter some £168 million from the taxman each year using K2.

Fellow comic Frankie Boyle took to Twitter in apparent condemnation of his alleged tax-avoidance. He wrote: "It's ok to avoid tax providing every time you do a joke about a town being s*** you add 'Partly down to me I'm afraid' under your breath."

HMRC said the K2 scheme was already under investigation.

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