M+4 MO Invoice – Incorrect VAT rate for ROI participants
Affected Period
February 2021
Status
Closed
Category
Settlement
Run Type
M4 (Settlement)
Created
Last Updated
UPDATE
Dear 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 info@sem-o.com.
Apologies for any inconvenience caused.
Kind regards,
SEMO Settlement
ORIGINAL
Dear Participants,
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.
Kind regards,
SEMO Settlement