Stay and Spend Scheme

The Government is giving people a tax credit of up to €125 if they spend money in restaurants, hotels and cafes from October 1st 2020 to April 30th 2021 to encourage people to staycation and spend money across the hospitality sector. Hotel Westport is participating in the Stay & Spend Scheme.   


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What is the Stay & Spend Scheme?

The Government is offering to give people a tax credit of up to €125 if they spend money in restaurants, hotels and cafes to encourage people to stay at home and spend money across the hospitality sector in the autumn, winter and spring. 

 

What can I claim back?

You can claim holiday accommodation such as your hotel stay with us, food and non-alcoholic drinks.  To receive a tax credit on your food and drink spend, the meal has to be prepared for you and consumed on the premises in which it is sold (so no take out).  Visitor attractions are not included so your tickets to Westport House or Winter Wonderland do not count.  Alcohol is also not included. 

 

Is there a limit on how much I can claim back?

The amount a person will get back in the form of income tax credits has been capped at €125, meaning that the scheme stops having a benefit to the consumer once €625 has been spent. You will also have to spend a minimum of €25 for a transaction to be counted towards the total.

 

Will that tax relief double for a couple?

It will. A qualifying couple who pay tax will be able to get tax credits worth up to €250 if they spend up to €1,250.

 

When does the scheme start and how long does it run?

It comes into effect on October 1st 2020 and runs through to April 30th 2021.  

 

What businesses qualify for the scheme?  

Businesses must qualify for the scheme and Revenue.ie need to know they are a part of it.  You can look up any participating businesses on the Revenue site and all businesses will display a sign stating that they are taking part in the scheme. Hotel Westport is part of the scheme.  

 

How do I claim the Stay & Spend Tax Credit?

There are a few ways to do it.

1. The simplest thing is to get the Revenue’s new ‘Receipt Tracker’ app, which has just been launched and is available for download on app stores now.  Once downloaded, taxpayers will be required to register for the scheme by providing their PPS number.  To track your spending, you will have to log the name of the business that provided the service, the expenditure that was incurred and how much of that related to non-qualifying expenditure. You’ll then be required to upload an image of your receipt.

Where a bill has been split between two or more people, we will provide individual receipts for the share of the services for which they paid.  If the business has not issued individual receipts, “each taxpayer will have to upload a copy of the same receipt to the app”, according to the guide.

2. If you don’t want to download the app, you can log your expenditure and claim your tax credit through the myAccount portal on the Revenue.ie website.  PAYE taxpayers can also fill out and submit a Form 12 in the same way they would for medical or employment expenses.  According to Revenue, the credit will then be offset against your tax liability “at the end of the year of assessment”.

This means that if you go to a restaurant in 2020, log your expenditure and claim the tax credit, it will be applied this year. If you do it between January and April 2021 — when the scheme concludes — it will be offset against your tax liability next year.

 

Who can claim this tax credit?

You are eligible to claim the Stay and Spend tax credit if you have both:

  • incurred a qualifying expenditure of at least €25 from 1st October 2020 to 30th April 2021
  • sufficient IT or USC liabilities to offset against the credit.

 

For more information, please call us on +353(0)9825122.