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EXPLAINER: Everything you need to know about the Stay & Spend Tax Credit

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EXPLAINER: Everything you need to know about the Stay Spend Tax Credit

EXPLAINER: Everything you need to know about the Stay Spend Tax Credit

To encourage people to spend money in the accommodation and food sector in Ireland, the Government announced a new ‘Stay & Spend Incentive.’ The new incentive allows you to claim a certain amount of tax back on accommodation, food
and non-alcoholic drink bought between October 1 and April 30, 2021.

Under the terms of the incentive:

1. You must spend a minimum of €25.00 in a single transaction on qualifying expenditure and submit the receipt to Revenue

2. You can submit receipts of up to €625 or €1,250 for a jointly assessed married couple

3. Revenue will provide an income tax credit of up to €125 per person, or €250 for a jointly assessed married couple

You do not need to be on a ‘staycation’ to avail of the incentive and you can check participating businesses by looking out for the ‘Stay & Spend Tax Credit Logo’ or by checking revenue’s list of participating service providers.

Participating service providers can register on Revenue Online Service (ROS).

You must:

1. Spend at least €25 in a single transaction between October 1, 2020 and April 30, 2021

2. Claim expenses on accommodation (Hotels, B&Bs, Caravan Parks), food and non-alcoholic drink

The incentive does not apply to:

1. Takeaway food
2. Alcohol drinks
3. Amounts below €25

Rates

The Stay & Spend Incentive tax relief is given at the standard rate of 20% up to a maximum of €125 per person, or €250 for a jointly assessed married couple and qualifying expenses is capped at €625 per person, or €1,250 for a jointly assessed married couple.

How to Claim

There is two stages to claim for the Stay & Spend expenses:

1. Submit your receipts via ‘Revenue Receipts Tracker mobile app’ or receipts tracker on Revenues ‘MyAccount’

2. Make an electronic claim for the Stay & Spend text credit (PAYE via Form 12 in MyAccount) or (Self-Employed via Form 11 in ROS)

How will relief be given?

The Stay & Spend Tax Credit will reduce the amount of income tax you have to pay (Income Tax Liability) If the tax accredit is higher than your income tax liability, any excess credit can be taken from USC.

For further details on your rights and entitlements, please contact:

 Tullamore CIC 0761 07 6290 or email Tullamore@citinfo.ie
 Portlaoise CIC 0761 07 5590 or email Portlaoise@citinfo.ie
 National Citizens Information Phone line 0761 07 4000 9am to 8pm (Mon to Fri)

 Request a call back service via our website HERE.

Citizens Information Services are supported and funded by the Citizens Information Board