Here’s the timetable for how the next Prime Minister will be chosen by MPs

A handout photograph released by the UK Parliament shows Britain's Chancellor of the Exchequer Jeremy Hunt announcing tax and spending measures as part of the medium-term fiscal plan to MPs at the House of Commons, in London, on October 17, 2022. - The British government on October 17, 2022 axed almost all of its debt-fuelled tax cuts unveiled last month to avert fresh markets chaos, in a humiliating climbdown for embattled Prime Minister Liz Truss. The shock move by new finance chief Jeremy Hunt, parachuted into the job on Friday to replace sacked Kwasi Kwarteng, leaves Truss' position in a precarious state after a series of embarrassing U-turns. (Photo by JESSICA TAYLOR / UK PARLIAMENT / AFP) / RESTRICTED TO EDITORIAL USE - NO USE FOR ENTERTAINMENT, SATIRICAL, ADVERTISING PURPOSES - MANDATORY CREDIT " AFP PHOTO / Jessica Taylor /UK Parliament" (Photo by JESSICA TAYLOR/UK PARLIAMENT/AFP via Getty Images)

TORY MPs look set to get the chance to vote for their next leader and new Prime Minister today.

By 2pm leadership contenders bidding to succeed Liz Truss will need 100 nominations to make the ballot.

If only one has the required number of nominations, they will automatically be elected Tory leader and PM

However, if only one has the required number, they will automatically be elected Tory leader and PM.

Under 1922 committee rules, there are multiple contenders, a first vote will kick off at 3.30pm with members voting for their preferred candidate.

If there are three candidates the person with the fewest votes will be eliminated, but if only two make the ballot, they will both go through to a wider members vote.

The results will be announced at 6pm.

If, after that process, two contenders remain another vote will be cast with a result at 9pm.

If one candidate is miles ahead their rival could drop out at — knowing they do not have the support of the MPs.

If there are still two contenders left, they will go to the Tory party members who will have until 11am on Friday.

A result will be announced later that day.