Businessman John Caudwell has vowed to shun tax avoidance schemes after using them to build his Phones4U empire in the 1990s.
Mr Caudwell, 69, said he was “extremely proud” of paying into the UK system and “absolutely wouldn’t” use loopholes to save money again.
Speaking to Lauren Laverne on the BBC’s Desert Island Discs, the businessman acknowledged he had taken advantage of tax avoidance schemes in order to be able to invest more heavily in Phones4U when it was still a fledgling company.
