"Simply not solvent!

Seaxwyn

They would be much less - but that means the debt would linger on of course. However the alternative is I pay the tax payments each month so that debt is gone in July - but meanwhile I will very probably be deep in my overdraft.

The tax thing is stressing me out horribly. Today is my DD3's 11th birthday so she and the others were excited this morning and chatting away happily as she opened her presents. I was so stressed and preoccupied thinking about money that I kept snapping at them and telling them to be quiet.

I wish I had another 'adult' to talk it over with but of course OH is useless. Despite my resolution I have been snapping at him too and had a big rant the other day.

tyllwyd

Well, assuming that you are borrowing the full £8K, you'd be paying a balance transfer fee of about £200, which doesn't seem too bad. I'd be inclined to do it, just because it would be more flexible than your HMRC payments, and obviously you don't get paid at the end of every month. You would need to be paying something like £400 every month if you were going to get it paid off in 18 months though. I think I'd do it, but try to get it paid by paying ad hoc payments or putting aside a certain percentage of every invoice as soon as it comes in - maybe 25%, because that would be the equivalent of saving for your next tax bill.

hypno06

Happy birthday to DD3......

And I agree with what Tyllwyd says re the cheques. But at the end of the day it all depends on how disciplined you are going to be on paying the barclaycard off as money comes in, or whether there will always be "something else" that crops up meaning the debt will linger on far longer than you would like. I think you need to set yourself a timescale for paying off the barclaycard, even if that timescale is longer than the HMRC would require - it would be a shame to still be paying this year's tax debt when next year's bill is due, for example.

If you didn't use the barclaycard cheques for paying your tax, would you be tempted to use them for something else, thereby increasing the debt on something unrelated? If so, then you should "Tie up" the barclaycard on the tax debt to save you spending it elsewhere!

Sorry if this sounds garbled - it has taken me ages to type this because people keep coming into my office and expecting me to do......WORK :eek:

Seaxwyn

Thanks tyllyd and hypno. I'm still pondering - but feel drawn to using the barclaycard. The credit limit is only £3800 so the fee would be £95 and I'd still have to pay some of the tax off.

If I didn't use the barclaycard cheques for paying tax I would shred them. I have absolutely no temptation to spend, thankfully.

I definitely would need a schedule for paying them off. About half the loan debt I already have is from previous tax bills. I really want to get out of this cycle.

boredofbeingathome

I think you need to think carefully about using them, but i understand the offset use and it would get the tax out of the way.
Decisions eh?

Sea78

Hi hun

Have you reached any decisions about this? How is the work going this month?
Sea xxxx

Seaxwyn

I haven't made a decision yet - still mulling it over. The Barclaycard offer lasts til 31 Jan so no immediate pressure to decide.

I'm also mulling over whether to apply for a part-time job I've seen advertised. I know I've been over the 'should I get a job' question ad nauseam - and always concluded that staying freelance was the better option. But now I've seen a job advertised which really tempts me.

It's 15 hours a week, the ad stresses that the hours are flexible and will include some weekend and evening work, so this should leave plenty of time for freelancing. It's to 27k pro rata. I know this works out at a lower rate than I get as a freelance, but it would be guaranteed regular income, and taxed at source. Best of all it seems like a chance to move into something that I've always had as a vague dream but didn't think was really possible living where I do.

Ever since I saw the ad I've been feeling really happy! But in the back of my mind I remember that 3 years ago I took on a part-time job for the same employer, and left after six months as it didn't work out at all. This is a different type of job and a different department, even a different location. Am I being mad to consider it? Opinions welcome!

Sea78

I think it sounds a good thing - and so what if it doesn't work out and you leave?! It's a regular income, gives you plenty of time for the freelance work,. which will then have to be done in shorter timeframe and then might be more motivating to get done and off??

Karmacat

Why didn't the previous time work out, Seaxwyn? As far as you can tell, would that reason be likely to repeat itself?

My own reaction - I agree with Sea, you can always leave if you don't like it. And if you feel that deep feeling of happiness, its always a hint that something is going well.

Good luck with it.

Seaxwyn

The other one didn't work out partly as I had to work the hours over 4 days, which made it very hard to fit in freelancing. Also the job was tedious and the boss a nightmare. I knew all those things when I accepted it, it was wrong from the start.

So I need to make sure that the hours are more flexible in this other job - and check that the people are nice.

The work is totally different - the previous job was editing a website and this other one is 'interpretation officer' for a park! One of the big attractions is that the office is in the middle of a beautiful park.