David Cameron was today caught describing Nigeria to the Queen as ‘fantastically corrupt’. But after the Panama Papers leak, the Prime Minister may want to choose his words more carefully: after all, that accolade could easily belong closer to home. Your average dodgy Nigerian oil baron and big-time British fraudster have much in common; a shared love of champagne, a doctor in Harley Street and… a little company based off-shore in a tax haven whose sole purpose is to hide stolen fortunes. And in most cases, that tax haven is one of ‘ours’ - either a British Overseas Territory or a Crown Dependency. Half of the companies featured in the Panama Papers were registered in British-administered tax havens.  These overseas territories vary in the degree of venality and abuse they accommodate but collectively they are dragging our British brand through the mud.