Search for “vat only” invoice for the first part, rest of it depends exactly how you want to do it, again there’s a few posts on repaying a loan or specific ones for vehicle finance that you could use as a guide. Most of it will come down to how you want to allocate the interest.
If you are cash accounting then the VAT return will look at the payment - you’ll need to show the invoice as being paid for this to show in your VAT return.
It may be best to speak with an accountant to make sure that you are doing everything correctly. You may just need to make a manual adjustment to your next return - but this is something that your accountant can advise on
Ok - I thought I may have to do this by asking my accountant - Trying to enter several ways - cause I know ive got to enter the vehicle as asset and may even enter new nominal code for the HP payments to go against…just not sure how to do.
Which bit specifically are you needing help with? You seem to have all the relevant info, what items contain VAT etc. There are some links to other threads which explain most of the steps so how far have you got, which bit are you stuck on?
Hi Thanks for the reply mush appreciate your time .
Im no accountant - and new to entering these items on QF…
I really need a step by step on entering the purchase - walk through on all the below
Total of vehicle is 25331.80 inc vat
down payment of 12500.00 - included is 100.00 deposit already posted to asset nominal -
accessories 515.67 vatable
road tax 275.00 non vatable