It’s alleged that Carr has been taking part in scheme to hide his money from the authorities in an effort to avoid paying taxes. It’s estimated that he has sheltered as much as £3.3 million (over US$5 million).
Carr’s lawyers have spoken out on his behalf, saying that what he did was legal. They don’t deny that he is a member of K2, the organization behind the scheme, and they say that he has disclosed all necessary information to the proper authorities.
The K2 scheme is currently under investigation. Reportedly, thousands of Britain’s richest citizens use the scheme to avoid paying their fair share of taxes.
Ironically, Carr has historically been vocal in his opposition to Barclays and what he has described as a tax avoidance scheme on the part of the bank.
Though what he did may not be technically illegal, it sure sounds hypocritical.