Staycationers can claim tax credits of up to €125 under new scheme

Staycationers can claim up to €125 in tax credits for money spent in restaurants, hotels and other businesses under a new stay and spend scheme launched by the Government.

The new scheme is aimed at driving sales in the hospitality sector during the off-season which has been severely hit as a result of the spread of coronavirus. 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 businesses from Autumn 2020 to Spring 2021, including over the Christmas period.

Taoiseach Micheál Martin said that “while many sectors have taken a hit, the hospitality industry is undoubtedly one of the worst affected by the public health measures which have had to be imposed to stop the spread of the virus.

“The stay and spend scheme will encourage people to go out for a meal or take a staycation and support the Irish hospitality sector by enabling them to claim back 20 per cent of their spend.”

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The scheme comes into effect on October 1st, but accommodation and food businesses can now register with the Revenue commissioners to participate.

In order to qualify for participation in the scheme, businesses will need to be registered for VAT, have a current tax clearance certificate and be registered with the relevant official bodies such as Fáilte Ireland and the HSE Environmental Health Service. They will also have to register with Revenue to participate and display a sign stating that they are taking part in the scheme.

Individual taxpayers who want to avail of the scheme can register by downloading an app and providing their name and PPS number, and they must also have an income tax or USC liability against which the tax credit can be set. They may also claim via computer and by post.