Changes to VAT affecting SAM
With the VAT rate changing to 21% on the 1st of September 2020, you will need to make the following changes in the SAM Accounts system.
⦁ In the Items Menu in SAM, click on Codes and Vat Codes. If you already have a VAT code with a 21% rate then skip to 2, below. If you do not have one then click Insert, enter a letter that is not already in use and enter 21.00 as the VAT Rate.
Under no circumstances should you change the existing 23% rate and Code.
⦁ In the File Menu, and System Options, in the General Tab, change the Default Vat to the letter you just created (or your existing 21% code) and click on Save and Close.
Note 1: Invoices entered prior to the first of September should be allocated at the 23% on receipt of relevant monies.
Note 2: In certain cases, after September 1st, the wording ‘23% Vat rate’ may appear on your printed bills, though the figures will reflect the new 21% rate. This will require an amendment to your Bill Layout Report. If this applies please email email@example.com to arrange for the rewrite. Alternatively, you can call us on +353 1 290 2222.
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