AGGGHHHH! (again)

beer2006

vindalooloo wrote:

I already feel pathetic because of how little I made self employed last year .... when I finally gave up and went back to work.

Don't feel bad about trying something most people just haven't got the balls or the inclination to have a go at.
Being self employed is great, but can be very stressful.
Don't give up, try again when you have revised your plans and got a bit of back up money behind you.

If we never tried anything new we'd never fail, but then we'd never get anywhere new either.

Donedoingdebt

Are you receiving all the tax breaks you're eligible for? I would have thought that on such a modest income, you wouldn't be paying any significant income tax, unless of course, your previous years were better. The HMRC are usually quite approachable & often they will allow you to pay in installments. There is an interest payment on the overdue amount of around 6% I think, although this is not compounded. (ie: you don't pay interest on the interest, just on the tax bill owing.) Contact them before they contact you & it will make life easier.

richardvc

Having had more than my fair share of scrapes with HMRC, I cannot shout loud enough - call them !! The sooner the better.

I made an offer to them which they declined and they made counter offers which I could not afford so I stood strong. After a month of wrangling they agreed with my original offer !!

Phone them on Tuesday, it will make you feel a whole lot better. Good luck.

vindalooloo

Sat here in chuffing tears (and I have to go to work later). Just rang Inland Revenue and they are saying that I can't pay in installments - have to get a cretit card cheque and send that to them. GREAT!!! MORE bleeping interest to pay.

Explained to her that I only earn £85 a week and hubby on Nat Min Wage and that our overdraft is maxed but alll she said was that 'I have another few weeks to get the money' ; She also advised me to 'borrow it from someone'. (GREAT! ALready own Mum £120, gonna look great asking her for MORE).

SO - Back to square one. Can't pay on my interest free credit card cos revenue won't take credit card payments. Overdraft maxed out after mortgage comes out. My ONLY option is to send a credit card cheque (the only one I have is for my high interest credit card) and accrue MORE interest.

Oh and she managed to get in 'We're not a bank'.

THANKS BUD!

nelly_2

vindalooloo wrote:

but alll she said was that 'I have another few weeks to get the money'

There you go then, thats the same as installments.

And the next time they say 'We're not a bank', reply - 'well I take it you wont be charging any interest on late payments then?'

vindalooloo

Had a thought, does anyone know whether you can do a PARTIAL balance transfer? For example, I owe about £2000 on the high interest CC, but have £680 left on the 0% CC.

Would it be possible to transfer, say, £400 to the high interest one from the 0% one and then send the CC cheque to the Revenue (effectively then paying from the 0% one - if you see what I mean).

Or when you do a balance transfer do you have to transfer the WHOLE amount? (Obviously I don't have enough credit on the 0% one to transfer the whole £2000).

Does this make sense? What I am asking effectively is can transfer SOME of the balance on my high interest one to the 0% one - is this allowed, or do you ahve to do a WHOLE balance transfer when you do them.

Hope I've explained this right?

CLAPTON

yes you can do a BT transfer of any amount up to the credit limit of your BT card or to whatever limit they set (often 90% of the credit limit.)


maybe ..if you just summarised your credit cards limits, 0% offers/cheques in one post maybe someone could make a suggestion..at the moment the details are all over the place so its a little difficult to help.

jas135

they will definitly accept installments , just stand your ground and dont even hint that you can borrow money from anywhere else . Just send them via post a letter explaing your situation along with some post dated cheques , make sure 1 of them is dated the same day as your letter so at least they have something straight away .

vivaladiva

Clutching at straws here but have you contacted Child Tax credit people to check where you will stand at the end of this financial year. I had to do this last year when I realised we had been over paid and they stopped any more payments instantly. If you've paid back loads but your circumstances have changed you might be entitled to more and they might be able to up payments to you. (If you think you might still have been overpaid, I'd keep quiet right now.;) IYKWIM.)