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So far, 1,600 companies in the hotel sector have signed up for the government’s stay and spending plan.
Starting today, taxpayers will be able to claim 20% of their spending on food and lodging in these registered places, as a tax credit, with some exceptions.
What is the Stay and Spend scheme?
The Government Stay and Spend plan aims to encourage people to stay in Ireland during the fall, winter and spring months, and to spend money in the hotel sector.
The scheme will operate from today, October 1, until April 30, 2021.
How much money will I save?
You can claim 20% of your bill at a qualifying restaurant, pub, hotel, B&B, and other businesses.
The maximum amount that a person can claim is € 125, which would be a total expense of € 625 between now and next April.
This amount will be doubled for couples evaluated jointly, who will be able to receive a credit of up to € 250, which would mean a total expense of € 1,250.
You must spend at least € 25 on each transaction to qualify for a tax credit.
Can I spend my money on something?
No, alcoholic beverages or drinks ordered without food do not qualify for the credit.
Take out orders are not included either.
How do I claim the tax credit?
You must send your receipts for any qualified expenses to the Treasury when making a claim.
The easiest way to do this is to use the free Revenue Receipts Tracker app, which allows you to upload images of your receipts to Revenue, so you can manage your receipts on the go.
Then you will need to record the name of the company that provided the service and how much it spent.
If you don’t have a smartphone, you can claim the income online or by mail.
You must make a claim for the stay and expense tax credit when completing your annual tax returns.
When will I receive the money?
You can claim relief for expenses incurred between October and December in fiscal year 2020.
Expenses after December 31 can be claimed in fiscal year 2021.
What companies will qualify for the scheme?
To qualify, businesses must be registered for VAT and have a current tax clearance certificate.
They must also be registered with the relevant official bodies, as appropriate, such as Fáilte Ireland and the HSE Environmental Health Service.
How will I know if a company participates?
Income constantly updates the list of registered companies on its website.
You can filter this list and search by type of service, type of location, and county.
Currently, there are 1,600 registered companies across the country.
Companies that have registered will also receive marketing and promotional material for their facilities to alert customers.
What has been the reaction to the scheme?
While many companies have welcomed the plan, there has also been criticism.
The Irish Confederation of the Tourism Industry said the scheme excludes many companies in the hotel sector, such as attraction operators and activity providers.
Instead, the ITIC had proposed a voucher program for the home holiday market and has urged the government to amend the program which it said will be “complex” and “difficult to manage”.
Meanwhile, Sinn Féin Transportation spokesman Darren O’Rourke has criticized the plan as a “missed opportunity” to restart the hospitality industry and a flawed plan that unfairly excludes large sections of society.
He said it’s a weak alternative compared to the proposed coupon scheme Sinn Féin introduced in June and that it will do little to help an industry on the ground.
“Under this flawed and unfair scheme, the richer you are, the more you can spend,” he said.
Why isn’t the government just issuing vouchers?
Tourism Minister Catherine Martin said a voucher scheme would have taken too long to implement when businesses need the support “ready to go in October.”
She said the Stay and Spend scheme encourages additional spending, when a coupon would have encouraged consumers to spend only the value of the coupon.
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