Not sure on the set you have but on my 37WLT58 you can record what you are watching. It is a menu setting to divert an input to one of the SCART sockets and that input can be the onboard Freeview Tuner or DTV as Toshiba call it.
Does the Toshiba allow you to record from it when in standby? If not it could be a problem (and power drain) having to have the TV on whenever you want to record something.
With Freeview STBs so cheap I would suggest thinking about a separate one just to feed the VCR. You could also then watch one thing while recording something else.
It would be even better although obviously more expensive to go for a DVD recorder with a freeview tuner or a Hard Disk Recorder with 2 Freeview Tuners.