Featured image: Harvey’s Point Hotel, Co. Donegal
The government’s Stay and Spend Scheme begins today, 1st October, offering money back on your bill in restaurants, hotels and other hospitality businesses.
Taxpayers can claim back 20% of their food and accommodation bills in registered locations. A maximum of €125 in income tax credits will be given to tax-payers who spend up to €625.
The scheme is open from today, 1 October until 30 April 2021, including over the Christmas period.
However many Donegal residents and businesses will not be able to reap the full benefits of the scheme until Level 3 restrictions are lifted.
Heightened restrictions have impacted the majority of Donegal’s hospitality businesses again this month. Donegal residents have been told they should not leave or enter the county unless for work, education or other essential purposes. People living outside of Donegal have also been told not travel into the county.
Furthermore, the Stay and Spend scheme does not apply to take-away food orders, and current restrictions in Donegal allow restaurants and cafes to only open for take-away and delivery and outdoor dining.
Tourism Minister Catherine Martin TD said: “It is unfortunate that currently our tourism industry in Dublin and Donegal is hugely restricted, and businesses throughout the country are impacted by the restrictions on movement to and from Dublin. However if anything it reinforces the need to provide what supports we can to tourism businesses. In this context, the Stay and Spend initiative will assist businesses throughout what will be a challenging winter season.
“While people may be restricted in their ability to move around the country, the initiative can of course be used for expenditure locally in cafes and restaurants, and I would encourage people to avail of the scheme to support our tourism and hospitality sector.”
The government's Stay and Spend scheme launches today.
The scheme will provide a maximum of €125 in income tax credits to tax-payers who spend up to €625 in restaurants, pubs, hotels and B&Bs.
— Fianna Fáil (@fiannafailparty) October 1, 2020
How does Stay and Spend work?
Tax-payers can, from today, upload their receipts for qualifying expenditure to the Revenue Receipts Tracker mobile app, to avail of the tax relief. You can continue to submit receipts until the cap on expenditure of €625 is reached.
You must spend at least €25 in each transaction to qualify for a tax credit. The relief does not include takeaway food, alcoholic drinks or drinks ordered without food.
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.
In order to qualify for participation in the scheme, businesses will need to adhere to criteria and be accredited/registered with Fáilte Ireland and the HSE Environmental Health Service. 1,600 businesses are already registered in Ireland. Customers can look out for the Stay and Spend promotional material to see if a business is taking part.Tags: