Stay and Spend is a tax scheme aimed at consumers to help drive sales in the hospitality sector during the off-season which has been negatively impacted as a result of COVID-19. The scheme will provide a maximum of €125 in income tax credits to tax-payers who spend up to €625 in restaurants, pubs, hotels, B&Bs and other qualifying businesses, from Autumn 2020 through to Spring 2021, including over the Christmas period.
Where a taxpayer has insufficient income tax liability to fully benefit from the measure, they may still avail of the relief against their USC contributions. The taxpayer can submit receipts via the newly updated and easy-to-use Revenue Receipts Tracker mobile app.
The Stay and Spend Scheme is being supported by Fáilte Ireland, the National Tourism Development Authority, who will both promote the scheme to consumers and encourage businesses to register to participate with a national radio and press campaign kicking off on Saturday, 5th September.
The Stay and Spend Scheme runs from 1st October 2020 to the 30th April 2021. To find out more, and view the list of participating businesses visit www.revenue.ie. You can download the new Revenue Receipts Tracker App in the Apple Store or Google Play Store.
Registration to participate in the scheme is now open for tourism accommodation and food and beverage businesses through Revenue’s Online Service, ROS.
Summary of Stay and Spend Scheme
At the level of individual taxpayer:
At the level of the business:
Purpose of the scheme
The purpose of the scheme is to incentivise taxpayers to support registered/accredited providers of accommodation and/or food during the off-season, thus providing support to a particularly vulnerable sector.
Businesses: In order to qualify for participation in the scheme, businesses will need to:
Individual taxpayers: To benefit from the scheme, an individual will need to:
Operation of the scheme
An individual taxpayer must spend a minimum of €25 each time on qualifying expenditure (accommodation, food and non-alcoholic drinks) as verified by a receipt from the relevant establishment. The taxpayer will submit the receipt by taking a photograph of same using a mobile phone and submitting same to Revenue using the mobile app. The taxpayer may continue to submit receipts until the cap on expenditure of €625 is reached. Revenue will provide an income tax credit of up to €125 (€625 @20%) per taxpayer (up to €250 in the case of a married couple, jointly assessed) in end of year balancing statement. The taxpayer will get the benefit of the credit in the year after the expenditure is incurred.