The government has announced changes to the self-employment income support scheme (SEISS), with a second grant set to be made available for sole traders who have seen their finances affected by the coronavirus.

The SEISS grants were officially launched back in the middle of last month and 2.3 million people who run their own businesses have since submitted applications for financial support. Now they are set to be eligible to receive a second payment during August, although this will be smaller than the first one. Instead of amounting to 80% of their average monthly business profits for the past three years, it will be the equivalent of 70% of these.

This second SEISS grant will have a maximum amount that people are able to claim of £6,570, according to the announcement made by Rishi Sunak, the Chancellor of the Exchequer. Self-employed business owners can still apply for the May grant, with applications for this being accepted until July 13 and applying before then will not affect their entitlement to claim the second one.

What has not been confirmed is whether an agent, such as an accountant for sole traders in South Yorkshire or anywhere else the trader happens to be based, will be able to apply on their behalf. It is doubtful, as this was not permitted with the first SEISS grant, but those looking to apply were encouraged to get advice from an accountant about the process if they needed it, and this will likely be the case again.