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One Two One Accounts Ltd

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One Two One Accounts Ltd

Helping Sole Traders and SMEs free up their time to focus on their business.

We're straight talking, face to face accountants who speak in plain English, hate small print, and put everything down in black and white.

29/05/2026

Making Tax Digital is changing the way sole traders manage their accounts. 💻

As of April 2026, many sole traders and landlords need to keep digital records and submit quarterly updates to HMRC under Making Tax Digital (MTD).

That means moving away from the traditional once-a-year tax return approach and staying on top of bookkeeping throughout the year. For businesses still relying on spreadsheets, paper receipts, or last-minute admin, the changes could feel significant.

Getting prepared early can make a huge difference. Using compatible software, keeping accurate records, and having the right accounting support in place can help reduce stress, avoid penalties, and keep your business running smoothly.

At One Two One Accounts, we help sole traders stay organised, compliant, and confident as MTD continues to roll out. Read our latest blog to find out what the changes mean for your business and how to prepare. 📖

26/05/2026

This September, our very own Gemma Forbes is lacing up her running shoes to take on the Great North Run in support of Alzheimer's Research UK . 👟🧡

Taking on 13.1 miles is no small challenge, but it’s all for an incredible cause that supports individuals and families affected by dementia every day.

We’re incredibly proud of Gemma for stepping up, putting in the training, and raising money for such an important charity.

If you’d like to support her fundraising efforts, you can donate here: https://tinyurl.com/gemmafundraising

Good luck, Gemma. We’ll be cheering you on! 🙌

22/05/2026

HMRC’s updated Advisory Fuel Rates (AFRs) remain in place for May, making now a good time for businesses to review company car mileage reimbursements and fuel repayments. 🚗

The current rates include:

Petrol: 12p–22p per mile
Diesel: 12p–18p per mile
LPG: 10p–19p per mile
Electric vehicles: 7p per mile for home charging and 15p per mile for public charging

Using the correct AFR rates helps businesses keep employee expense claims accurate, compliant, and in line with HMRC guidance.

As fuel costs and regulations continue to evolve, regularly reviewing mileage and fuel claims can help businesses avoid unnecessary issues and stay on top of reporting requirements.

If you’d like support reviewing your processes or business expenses, our team is here to help. Contact us today.

20/05/2026

The rumours about Making Tax Digital (MTD) are everywhere right now, and if you’re a sole trader, small business owner, or landlord, it’s easy to feel overwhelmed.

Get the facts to five common misconceptions below! 👇

Myth one busted: Absolutely not! You aren't doing full tax returns every three months. You (or we) will simply submit a quick, digital summary of your income and expenses each quarter. Your final tax calculation and allowances still happen just once a year.

Myth two busted: Check your calendar! The rollout is based on your gross income (turnover before expenses), not your profit.

Myth three busted: If you are deeply attached to your spreadsheets, you can keep them. You will just need bridging software to securely link your data to HMRC.

Myth four busted: MTD requires digital record-keeping as you go. The easiest fix? Snapping photos of receipts on a tracking app the day you get them.

Myth five busted: MTD for Income Tax is separate from your VAT. HMRC will not automatically transition you over. You (or your accountant) must actively sign up for the service and link your compatible systems before your first deadline.

Change can be stressful, but you don’t have to figure this out alone. If you want us to look at your thresholds and get your digital setup sorted seamlessly, drop us an email at [email protected]. 📧

15/05/2026

Pension changes could boost retirement savings by up to £29,000. 💷

A major new law from the Department for Work and Pensions is set to reshape the UK pensions landscape, with over 20 million workers expected to benefit.

The new Pension Schemes Act aims to improve value for money, consolidate small pension pots, and deliver stronger long-term returns.

For employers and SMEs, this highlights the growing importance of getting workplace pensions right. With increased scrutiny on pension schemes and contributions, accurate payroll processes are more important than ever.

At One Two One Accounts, we support businesses by managing all aspects of payroll, including wage calculations, deductions, and contributions to schemes such as National Insurance and workplace pensions.

As pension rules continue to evolve, having a reliable, knowledgeable team in place ensures your employees and your business are well prepared for the future.

Get in touch to learn more!

11/05/2026

This Mental Health Awareness Week, we’re recognising the importance of wellbeing, both within our team and for the clients we support every day.

At One Two One Accounts, we foster a supportive workplace where the team can speak openly, share pressure, and feel genuinely supported in their roles.

That same approach extends to our clients. We know financial matters can feel overwhelming, so we focus on making things clear, structured, and stress-free, with ongoing support whenever it’s needed.

Whether it’s within our team or with our clients, we believe better support leads to better outcomes and a clearer mind.

If you’d like access to helpful resources for supporting mental health, visit: https://www.mentalhealth.org.uk/our-work/public-engagement/mental-health-awareness-week

08/05/2026

This is a question I’m asked quite often.

In practice, it follows a clear and structured process, and my role is to make sure each stage is handled accurately and in line with HMRC requirements.

I start by ensuring all employee information is correctly set up and kept up to date. This includes everything from starter details and tax codes through to pension settings.

Then I calculate pay based on salaries or hours worked, making sure overtime, bonuses, and any adjustments are included correctly so employees are paid accurately.

Next, I deal with all the necessary deductions, including income tax, National Insurance, and pension contributions, ensuring everything is fully compliant.

Finally, I handle the reporting side, submitting Real Time Information (RTI) to HMRC and providing clear payslips so employees can see exactly how their pay has been calculated.

For me, payroll processing is about creating a smooth, reliable process that removes stress for business owners while keeping everything accurate and compliant behind the scenes.

If you’re unsure whether your current payroll process is working as efficiently as it could be, I’d be happy to help. Get in touch today.

~ Jenni

07/05/2026

AI is reshaping cyber risk, but people still matter most. 🤖

New insights from the ICAEW highlight how AI is rapidly changing the cyber security landscape. Attacks are becoming faster and more sophisticated, while the use of AI in everyday business tools can also introduce new risks if not properly managed.

For SMEs, this reinforces an important point: technology is powerful, but it still needs human judgement. Strong cyber hygiene, clear processes, and careful oversight are essential, especially when sensitive financial data is involved.

That’s where a trusted adviser makes the difference. At One Two One Accounts, we combine modern tools with a personal approach.

We take the time to understand your business, spot risks, and provide practical, tailored advice, which is something AI alone simply can’t replicate.

In a world of increasing automation, having a friendly, experienced team in your corner has never been more valuable. Visit our website to find out more. 🌐

30/04/2026

Outsourcing your accounting gives you more time, clearer insight, and confidence in all your financial decisions.

Hear Alfie Joey share how we support your business behind the scenes, so you can focus on what matters most. 👇

28/04/2026

With Making Tax Digital (MTD) now underway, HMRC has started to clarify how the new penalty regime will work, and it’s a shift worth understanding.

Rather than immediate fines, the system moves to a points-based approach for late submissions. Each missed deadline adds a point, with a financial penalty only triggered once a threshold is reached.

There is also a short period of leniency. For those joining MTD from April 2026, late quarterly updates won’t initially attract penalty points, giving businesses time to adjust to the new system.

However, this shouldn’t be mistaken for a free pass. Points can still build up over time, and stricter rules, particularly around late payment, are expected to apply more widely from April 2027.

The key takeaway is that while the system is designed to be more flexible, consistent compliance will still be essential to avoid penalties in the long run.

If you’d like support staying on track under the new rules, our team is here to help. Get in touch today.

Address

44 Astley Road, Seaton Delaval
Whitley Bay
NE250DG

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Website

https://www.onetwooneaccounts.co.uk/

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