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Prime Minister Rishi Sunak has asked his independent ethics adviser to look into the tax affairs of Conservative Party chairman Nadhim Zahawi.
Mr Sunak said there were "questions that need answering" over the case.
Mr Zahawi is facing calls to resign, after it emerged he paid a penalty to HMRC over unpaid tax while he was chancellor, as part of a multi-million pound dispute.
He has described the error as "careless and not deliberate".
On a visit to a hospital in Northamptonshire, Mr Sunak told reporters: "Integrity and accountability is really important to me and clearly in this case there are questions that need answering.
"That's why I've asked our independent adviser to get to the bottom of everything, to investigate the matter fully and establish all the facts and provide advice to me on Nadhim Zahawi's compliance with the ministerial code."
He added that Mr Zahawi would remain Tory Party chairman during the investigation and had agreed to "fully cooperate".