The chancellor has written to the prime minister asking him to refer him to the Independent Adviser on Ministers’ Interests to determine whether all his interests were “properly declared”.
In a tweet, Rishi Sunak said he had “always followed the rules” and that he hoped the review would “provide further clarity”.
In the letter Mr Sunak said he was asking Boris Johnson to refer him to Lord Geidt “given the recent speculation around my declarations”.
This comes as Labour also wrote to Downing Street asking for an investigation into a “series of troubling revelations regarding the tax status and business connections of the Chancellor and his household”.
In recent days Mr Sunak has faced criticism for his wife’s status as a non-dom and the fact that he held a US ‘Green Card’ allowing him permanent residence in the country while he was Chancellor.
Lord Geidt has previously investigated Boris Johnson over concerns about the funding of renovations of his Downing Street flat.
The Prime Minister is required to ask the Independent Adviser to open an inquiry which can take weeks or months to complete.
Number Ten has not yet replied to the letters but sources indicated there would be a response in the coming 24 hours.
His wife has said she will now pay UK tax on her worldwide income.
“My overriding concern is that the public retain confidence in the answers they are given and I believe the best way of achieving this is to ensure those answers are entirely independent, without bias or favour,” the letter states.
“To that end I would recommend that Lord Geidt makes all his conclusions public. I am confident that such a review of my declarations will find all relevant information was appropriately declared.
“I have throughout my ministerial career followed the advice of officials regarding matters of propriety and disclosure and will continue to do so so,” he added.