'Stay and Spend' is a new government scheme that will allow taxpayers claim back 20% of their spend on accommodation, food and non-alcoholic drink in hotels, restaurants and other qualifying businesses up to a maximum of €625. It only applies to spending between 1st October 2020 and 30th April 2021.
If you choose to spend €625, this will equate to a saving, or tax credit, of €125 per person. It is important to note that the Stay and Spend scheme is only available to taxpayers. You will need to have an income tax or USC liability which the tax credit can be offset against.
You simply download the Revenue Receipts Tracker app on the App Store or Google Play Store. You will need a PPS number to register. To submit your claim, take a photograph of your receipt on your mobile phone and upload this through the app. There is a minimum spend of €25 per transaction, but you can upload as many receipts as you like, up to a maximum spend of €625.
Revenue will provide an income tax credit of up to €125 (or 20% of entire spend) per taxpayer, or €250 for a married couple who are jointly assessed.
Relief is available on holiday accommodation and 'eat-in' food, including soft drinks. You don't have to be on a staycation to claim - the spend can be in your local area. However, the scheme does not include alcohol.
"Where a bill is split between two or more customers, each customer should receive an individual receipt. This receipt should show the share of expenditure incurred by each customer," the Government says. Remember, each person would need to pay more than €25 to qualify.