Both vans cost £12,000 plus VAT but the payments are being made via a finance company over a period of three years. Can I offset the input vat for the total amounts through the purchase ledger in the month that the vans were delivered, or do I have to remember to offset the proportion of VAT on the

payments over the next 36 months?

…The credit terms we give are 30 days from the end of month (so invoice date 15/6 is due on 31/7). What sales figure, debtor figure and number of days should I use for the calculation?

Assuming your financial year starts on 1 April and the calculation is made at 31 July, the position is as follows:

Goods move between member states in free circulation unless there is a Customs & Excise (HMCE) document stating that the goods are moving under HMCE control in duty suspension. Goods moving under duty suspension have to be declared to HMCE at point of arrival in UK and any import duty and VAT will be due to be paid.

…If the majority of miles are business miles, is it best to show the car as an asset and declare it on the P11D or for the partner to charge mileage allowance and count the car purchase as a loan. If you could assist it would be greatly appreciated.