Nigel Farage has announced he is calling a by-election in his own seat amid intense scrutiny over his financial affairs.

The Reform leader said he will step down as MP for Clacton, triggering a by-election in which he will stand as he fights for his political future.

It comes after it emerged he had received financial support from the convicted fraudster and long-term ally George Cottrell.

Farage was already facing a parliamentary investigation over a £5m gift from the Reform donor Christopher Harborne.

The party had insisted both gifts dated before Farage was elected as an MP in 2024 and were for his own personal security, and did not need to be declared to parliamentary authorities.