M+4 MO Invoice Incorrect VAT rate for ROI participants
SEMO carried out the material assessment for the below issue and came to conclusion there will be no additional settlement of M+4 MO charges for February 2021 carried out due to a low materiality.
The next scheduled resettlement run (M+13) will include the correct VAT rate of 23 % for any changes caused by new metering submissions received for this run.
If you have any further questions please submit your query to email@example.com.
Apologies for any inconvenience caused.
Please be advised the M+4 MO Invoice for February 2021 issued yesterday, 13/07/2021, has an incorrect VAT rate applied for ROI participants. The invoice has been issued with VAT rate of 21% instead of the correct VAT rate of 23%. SEMO is currently completing the materiality assessment of this issue.
This issue will have no impact on the payments in (20/07/2021) and payments out (21/07/2021) dates.
We will update participants once the next steps to rectify the issue are determined.
Apologies for the inconvenience caused.