Nadhim Zahawi has been sacked from his position as Tory party chairman after he was forced to pay a penalty to resolve a multimillion-pound tax dispute whilst he was chancellor. 

It comes after the former chancellor faced ongoing pressures after questions arose surrounding his finances. 

The MP admitted that he had paid what HM  Revenue & Customs said "was due" after they had "disagreed about the exact allocation" on shares in the YouGov polling site, which Zahawi co-founded. 

Although he did not share the size of the settlement there are reports it was around £4.8m with an added 30% penalty. 

In a letter to Nadhim Zahawi, Prime Minister Rishi Sunak said the findings of his independent adviser on ministers’ interests Sir Laurie Magnus made it “clear that there has been a serious breach of the ministerial code”.

Messenger Newspapers:

The letter said: “When I became Prime Minister last year, I pledged that the Government I lead would have integrity, professionalism and accountability at every level.

“That is why, following new information which came to light in recent days regarding your personal financial arrangements and declarations, I asked Sir Laurie Magnus, the independent adviser on ministers’ interests, to fully investigate this matter. You agreed and undertook to co-operate fully with the inquiry.

“Following the completion of the independent adviser’s investigation – the findings of which he has shared with us both – it is clear that there has been a serious breach of the ministerial code. As a result, I have informed you of my decision to remove you from your position in His Majesty’s Government.

“As you leave, you should be extremely proud of your wide-ranging achievements in Government over the last five years.

“In particular, your successful oversight of the Covid-19 vaccine procurement and deployment programme which ensured the United Kingdom was at the forefront of the global response to the coronavirus pandemic.”