Hi Calum,

Thanks for using Community Hub.

If you use standard or invoice based VAT then the VAT will be recovered on the first VAT Return after the invoice is posted.

The following article gives more information about how to record the purchase of a fixed asset like a commercial vehicle: Purchase a fixed asset >

If this helps, please click Verify Answer.

Regards,

Andy
Sage UKI

yes this correct 

do I just allocate that payment against the invoice through banking then?

what about interest on the finance?

Hi Calum, in terms of the payment and allocation you might want to check how your accountant wants to do that but our recommended steps are all in this article: Purchase a fixed asset >

Andy
Sage UKI