No tax help to put up tourists outside of TT festival

Monday 14th February 2022 12:08 pm
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The Minister for Enterprise has said Homestay tax incentives will not be extended to events other than the TT.

Homestay is a scheme that has those who sign up invite paying visitors into their home to stay while they enjoy the road racing, which means the island is able to host more visitors.

Hosts can earn a certain amount of income tax free during the TT, which ’acts as a real incentive to make their homes available’, said Alex Allinson.

Dr Allinson said in the House of Keys this week that this tax incentive has not been required at other times throughout the year.

He said: ’Over 25,000 visitors stay on the island at the same time during the peak of the TT which is nearly four times our normal capacity of available beds. The rest of the year, with over 6,000 spaces available, the island’s permanent tourism accommodation businesses are currently sufficient to meet most areas of demand at most times.

’Although, the tax free concession was introduced for the 2011 Commonwealth Youth Games which took place in the island.’

Visit Agency announced its ambition last year to grow the number of visitors over the coming years, which includes maximising the visitors attending events throughout the year.

Dr Allinson added: ’Increasing visitor numbers will need to be supported by the appropriate infrastructure so that we can continue to offer a positive visitor experience.

Visit Agency will continue to monitor the situation and will enter into discussion with the Treasury if further extension of the homestay scheme appears necessary.’

Arbory, Castletown and Malew MHK Jason Moorhouse said there was a ’level of uncertainty’ as to whether people hosting visitors for the Manx Grand Prix would receive any tax incentives.

The minister said there was ’no uncertainty’ and it had been made clear by the department that it wasn’t needed.

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