Blog

Stay and Spend Tax Credit

August 10, 2020

What is the Stay and Spend Tax Rebate?

The Stay and Spend Tax Rebate is a new tax credit available for the years 2020 and 2021.

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 (i.e. €625 spent per individual).

The tax credit will used to reduce your PAYE liability. Any excess credit may then be off set against your USC liability. You must have paid PAYE or USC to be able to claim the credit.

 

What is ‘Qualifying Expenditure’?

‘Qualifying expenditure’ means expenditure on a qualifying service. The service must be provided by a qualifying service provider.

A qualifying service broadly includes holiday accommodation and eat-in food and non-alcoholic drink.

Holiday accommodation is accommodation in a premises registered or listed with Fáilte Ireland, this includes:

  • bed and breakfasts
  • caravan and camping parks
  • guest houses
  • holiday camps
  • holiday hostels
  • hotels
  • holiday apartments
  • approved holiday cottages
  • youth hostels

Food and drink must be served and consumed on an eat-in basis in a hospitality premises, such as:

  • hotels
  • restaurants
  • cafes
  • licensed premises

List of qualifying service provider

Revenue have provided a list of all qualifying service providers who are participating in the Stay and Spend Scheme.

This list will be automatically updated as new service providers register for the scheme.

 

Value of the Stay and Spend Tax Credit

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

These limits are:

  • €625 for an individual
  • €1,250 for jointly assessed spouses or civil partners.

The maximum combined tax credit that can be claimed in 2020 and 2021 is:

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

 

How do I claim the Stay and Spend Tax Credit?

To claim the Stay and Spend Tax Credit just fill in our Full Review Form and upload the necessary receipts. This form will provide us with the details necessary to claim the Stay and Spend Tax Credit, along with any additional tax credits you might be due for the last 4 years.

Alternatively, you can fill out our Quick Review Form, and contact us upon completion informing us of the tax credit(s) you are looking to claim.

If you are not entitled to the Stay and Spend Tax Credit, but would still like us to review your taxes, just complete our 50-second Quick Review Form.