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

It comes after he 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 per cent 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”.

Midweek Herald:

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.”