sorry dude.. so the last prime minister made a huge error and put a referendum vote to leave the EU.. leave won / (just) so the UK is heading out of our biggest market and LONDON's financial clout, is in jeopardy.. banking makes a shed load of tax revenues..

so the current government, desperate to generate wealth in the event we look like we're going bust is to drop corporation tax way below EU levels, which are pretty much in line with each other for stability..

so corporations come here and pay 10% less tax on billions.. a sizeable sum. Lots of business is done in Panama for the pretty much zero tax rates and a lot of shit has hit the fan as leaks have shown that loads of individuals and corporations have offshore fronts in Panama and other low tax islands !!

so it's Panama Style bit complicated answer but hope that makes sense ;)