Stay and Spend Scheme

 

The Stay and Spend Tax Credit is a new tax credit available for the years 2020 and 2021. It may be used against an Income Tax (IT) or Universal Social Charge (USC) liability in a year of assessment.

You can claim the Stay and Spend credit for qualifying expenditure incurred between 1 October 2020 and 30 April 2021. This includes expenditure on either:

  • holiday accommodation
  • ’eat in’ food and drink.

The minimum spend is €25 per transaction. You must submit a copy of your receipt with the claim.

A ‘qualifying service provider’ must provide the service. Qualifying service providers are those who have registered with Revenue to participate in the scheme.

The maximum tax credit available under the scheme is €125 per person. The maximum tax credit available for those under joint assessment is €250.

The tax credit will used to reduce your IT liability. Any excess credit may then be off set against your liability to USC. You must have an IT or USC liability to offset against the credit to claim it.

This section will explain what type of expenditure is qualifying and how you can claim the tax credit. It will also explain how to identify service providers participating in the scheme.

Value of the Stay and Spend Tax Credit

The Stay and Spend tax credit is equal to up to 20% of qualifying expenditure incurred, up to certain limits.

The limits on the amount of expenditure which can qualify under the scheme are:

The maximum tax credit that can be claimed under the scheme in respect of the 2020 and 2021 years of assessment is either:

  • €125 per person
  • €250 per couple for jointly assessed spouses or civil partners.

How to claim the Stay and Spend Tax Credit

You must make a claim for the Stay and Spend tax credit when completing your annual tax return.

You must submit a copy of a receipt for any qualifying expenditure incurred when making a claim. You can do this using the new Revenue Receipts Tracker App.

We have a step by step guide in TDM Part 15-01-47 on how to:

  • submit a copy of your receipt
  • make a claim for the credit.

Who can claim this tax credit?

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

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

Visit https://revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/stay-and-spend/index.aspx for further information.

Book Your Stay