HMRC has not yet announced how much the fourth grant will be worth.

Kevin Humphreys, Tax and Forensic Investigations Consultant from Integrated Dispute Resolution, told Express.co.uk: “Almost a month to the day that Rishi Sunak’s Self-Employment Income Scheme (SEISS) extension received a lukewarm welcome for it’s steep dip in grant entitlement, the Treasury agreed to double the cap from £1,875 to £3,750 as part of an urgent revisit of their Winter Economy Plan… the Chancellor’s change of heart to increase the coverage from 20 percent of average monthly profits to 40 percent will no doubt provide some much needed comfort.

“That said, it still represents a three-fold reduction of 30 percent to the 10 percent drop that was seen between Claim 1 and Claim 2.

“For anyone seeking to make a third claim, it is important to stress that the qualifying criteria has changed significantly from that laid down for the first two.”