Nadhim Zahawi says his tax error was “careless and not deliberate” and he wants to “address some of the confusion” about his finances after Labour called for him to be sacked.

In a statement, the Tory chairman said his father took founder shares in YouGov and that HMRC later “disagreed about the exact allocation”, leading him to “settle the matter and pay what they said was due”.

“They concluded that this was a ‘careless and not deliberate’ error,” he said.

“So that I could focus on my life as a public servant, I chose to settle the matter and pay what they said was due, which was the right thing to do.”

Questions have swirled following an article in The Sun on Sunday, which claimed a seven-figure payment was made by Mr Zahawi to end a dispute with the taxman “after scrutiny of his family’s financial affairs”.

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