Is it safe to update the Tax Recovery Rate Code > Recovery Rate Period after it has been used?

Summary:

Is it safe to update the Tax Recoverable Code > Recovery Rate Period after it has been used on historical transactions?

Content (please ensure you mask any confidential information):

We have a Tax Recoverable Account assigned to a Tax Rate Code that is different to the Tax Recoverable Account that is in the Tax Recovery Rate Code.
We wish to have the Tax Recoverable Account that is in the Tax Rate Code on our accounted Payables transactions. But now on the transactions, it presents the Tax Recoverable Account that is in the Tax Recovery Rate Code.
We think we understand what needs to happen to resolve this issue, but needs to walk through the steps with you to understand/confirm whether this is something safe and recommended. Please see below these steps for your perusal.