The government will be hosting a meeting with business organisations to put together a plan for supporting those sole traders classified as limited company directors.

Up until now, the two million sole traders who fall under that umbrella have been shut out of the various schemes to help people survive the coronavirus crisis. Last month, tax experts and business groups came up with the idea of a grant that would be similar to the Self Employment Income Support Scheme (SEISS), which they called the Directors Income Support Scheme.

This plan has the backing of the ForgottenLtd campaign, as well as organisations like the Association of Chartered Certified Accountants (ACCA) and the Federation of Small Businesses (FSB). Now, it appears to have succeeded in getting the government to change its mind about financial support for company directors.

Craig Beaumont from the FSB stated that people in this position have organised their businesses in the correct way and paid all taxes due, and yet had been denied any help during the pandemic.

A spokesperson for the Treasury told Small Business that:

“In some circumstances people may not be able to access our (support) schemes as a result of restrictions designed to mitigate the risk of fraud. We continue to engage with stakeholders on ideas that could sufficiently address these issues.”

Applying for the grant would be very similar to the SEISS application process. This means that an accountant for sole traders in Goole or anywhere else could not complete the application, but they would be able to advise.