Government launches 'Stay and Spend" scheme in bid to boost hospitality sector
The hospitality sector is one of the worst affected by public health measures, Taoiseach Micheál Martin said.
A new scheme designed to encourage spending from consumers during the off-season in the hospitality sector has been launched by the government.
The scheme will provide a maximum of €125 in income tax credits to taxpayers who spend up to €625 in restaurants, pubs, hotels, B&Bs and other qualifying businesses.
It will operate from 1 October to 30 April, including over the Christmas period.
A consumer can avail of the scheme by downloading the Revenue Receipts Tracker mobile app and registering with their PPS number.
You then submit an photograph of your receipt on qualifying expenditure (accommodation, food and non-alcoholic drinks) through the app and a 20% refund, of between €25 and €125, will be applied to your tax bill in 2021.
Speaking at the launch of the scheme on Thursday, Taoiseach Micheál Martin said the hospitality sector was "undoubtedly one of the worst affected" by the lockdown and public health guidelines.
"We recognise the strain that restaurant owners, hoteliers, bar and café owners are under and have taken steps to help them through this difficult period," Martin said.
"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% of their spend."
He added: "We need to protect these jobs and businesses and the government has put in a range of supports through the July Stimulus plan and other measures to help them recover from the effects of Covid-19."
For those looking to avail of the scheme, more information is available on the Revenue website, as well as a list of participating businesses.
But the main points are:
- You must spend a minimum of €25 per person on qualifying expenditure (accommodation, food and non-alcoholic drinks) up to a spend limit of €625 over the life of the scheme.
- In the case of food, it must be consumed on the premises.
- A refund of 20% of the vouched cost will come through income tax i.e. maximum tax credit of €125 per person. (For married couples who are jointly assessed, the maximum spend over the life of the scheme will be €1,250).
- The taxpayer will submit the receipt by taking a photograph and submitting it to Revenue via the mobile app.
- The taxpayer may continue to submit receipts until the cap on expenditure of €625 is reached.