Share fishermen, who are self-employed and take a share of a fishing boat's profits, are being encouraged to sign up to the initiative.

The Share Fisherman Scheme requires members to set aside 20% of their monthly earnings from their boat so they can pay their tax and National Insurance contributions annually and on time.

An HMRC spokesman said:

"The scheme will make it easier for share fishermen to access other benefits, including: tax credits, if they are on a low income; and other financial services, such as, loans and mortgages."