There is no advantage whatsoever as vat is accounted for at the point of purchase and, as a result, stock is dealt with net of VAT.

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: