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.

Do you use a PAYE Settlement Agreement (PSA) in your business? If you provide your team with minor, irregular, or one-of...
15/10/2026

Do you use a PAYE Settlement Agreement (PSA) in your business?

If you provide your team with minor, irregular, or one-off perks (such as staff party costs, seasonal gifts, or other minor expenses that are tricky to process through regular payroll) a PSA allows you to settle the tax and National Insurance on all of them in one single yearly bill, saving you a huge amount of admin time.

If you have a PSA in place, make sure you note these upcoming payment deadlines:

19th October is the deadline if you are paying by cheque.

22nd October is the deadline for electronic payments (making sure funds clear in HMRC’s account on time).

If you’re interested in outsourcing your bookkeeping to us, we offer a dedicated service:

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

If you've recently started working for yourself, picked up a side hustle, or need to file a Self-Assessment tax return f...
13/10/2026

If you've recently started working for yourself, picked up a side hustle, or need to file a Self-Assessment tax return for the very first time for the 2025/26 tax year, your first major milestone is coming up.

The 5th October is the deadline to register with HMRC if you’re filing for the first time.

Jump scare! 👻 The 31st October is the traditional paper tax return deadline. While most people choose to file online later in January, treating this date as your personal reminder is a great way to start gathering your receipts and records early.

Staying ahead of the paperwork means no last-minute panic. If you need a hand getting registered or keeping your accounts organised, we’re here to help.

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

Hi there, future business owner! 👋 If you’ve been dreaming of turning your passion into your livelihood, you'll be joini...
08/10/2026

Hi there, future business owner! 👋

If you’ve been dreaming of turning your passion into your livelihood, you'll be joining around 4.3 million sole traders in the UK who are striking out on their own.

If you’re planning to fly solo and build a business that you're proud to call your own, we're here to help you understand the numbers.

Here's a quick guide to help you hit the ground running:

1. Choose the right business structure (sole trader vs limited company), as this will impact your taxes and responsibilities.

2. Register with HMRC. If you're a sole trader, you'll need to register for Self Assessment, and if you're a limited company, you’ll need to register with Companies House and notify HMRC for Corporation Tax within three months of starting business activities.

3. Build good bookkeeping habits from day one. We recommend separating your personal and business finances immediately, save every single invoice, receipt, and expense record, and keep track of your income and outgoings regularly.

If you're ready to start your business journey and want friendly, down-to-earth guidance to keep your accountancy on track, give us a call on 0191 338 7374.

Are you claiming all the expenses you are entitled to? 🤔 When you’re running your own show, everyday costs can quickly a...
06/10/2026

Are you claiming all the expenses you are entitled to? 🤔

When you’re running your own show, everyday costs can quickly add up. As a small business owner, it’s important to claim all your allowable expenses so you can reduce your tax bill and only pay tax on your business profits.

Here are some common expenses business owners often miss out on:

1. If you’re working from a home office, a reasonable proportion of your household bills (like heating, electricity, and broadband) can often be claimed.

2. Train tickets, parking fees, and fuel for business-related journeys (though remember, your standard daily commute doesn't count!).

3. Software subscriptions, mobile phone bills, postage, and everyday stationery.

Business insurance and trade membership fees.

Tax rules can vary depending on your business structure, and things can get tricky if you use items like your car or phone for both personal and business use, but we’re here to help with any of the grey areas you’re unsure about.

If you want a clear, friendly review of your accounts, the team at One Two One Accounts is always here to help you get it right. 👋

CIS paperwork piling up? Keep those deadlines in sight. 👷 HMRC has updated its Construction Industry Scheme (CIS) guidan...
30/09/2026

CIS paperwork piling up? Keep those deadlines in sight. 👷

HMRC has updated its Construction Industry Scheme (CIS) guidance, including a reminder that contractors need to provide their 13-character reference number when making payments to HMRC.

It’s a useful reminder for construction businesses to keep on top of the basics. CIS operates on monthly tax periods, running from the 6th of one month to the 5th of the next, with monthly returns due to HMRC by the 19th.

Any CIS deductions also need to be paid by the 22nd when paying electronically, or by the 19th if paying by other methods. There’s plenty to keep track of when you’re already busy running jobs, managing subcontractors, and keeping the business moving.

We can handle the CIS paperwork for you, helping with your monthly returns and keeping things on track with HMRC. If you'd rather spend your time running the job than working out the paperwork, give us a call on 0191 338 7374.

Is your VAT record-keeping fully compliant? 🗒️ Staying organised makes submitting accurate VAT returns simple and helps ...
28/09/2026

Is your VAT record-keeping fully compliant? 🗒️

Staying organised makes submitting accurate VAT returns simple and helps protect your business from expensive errors.

Here is a quick checklist of the key records VAT-registered businesses need to retain:

● Sales and purchase invoices
● Credit and debit notes
● VAT account summary and copies of all submitted VAT returns
● Import and export documents
● Records of items purchased for personal use or non-business use
● Adjustments and calculations used when completing a return
● Digital records that meet Making Tax Digital (MTD) rules using functional, compatible software

As a general rule, VAT records should be kept for at least six years.

A simple VAT process makes for a tax season free from stress. Get in touch with our helpful team today to find out how we can support you and your business!

Own a construction business? Read this👇 Building houses or managing a site is hard enough, your VAT shouldn't give you a...
22/09/2026

Own a construction business? Read this👇

Building houses or managing a site is hard enough, your VAT shouldn't give you a headache on top of it! 😣

If you’re a contractor, subcontractor, or running a construction business, you know that VAT rules in the industry are a bit of a minefield.

Here is why construction VAT gets so complicated, and what you need to keep on your radar:

Depending on the exact nature of the project, construction work can be standard-rated, reduced-rated (5%), or even zero-rated (0%).

If your services fall under the Construction Industry Scheme (CIS), you might need to use the reverse charge. This means your customer pays the VAT straight to HMRC instead of paying it to you.

For subcontractors, not collecting that VAT anymore can have a big impact on your day-to-day cash flow if you aren't prepared for it.

You always need to confirm your customer’s VAT and CIS registration status before you work with them, and your invoices must clearly state when the reverse charge applies.

Never assume that every construction invoice should be treated the same way.

Unsure how VAT applies to a specific project or looking at an invoice and second-guessing yourself? Speak to the team at One Two One Accounts before you submit your return, we’re always here to make things simple and stress-free.

Is your business using the most tax-efficient VAT scheme? 💭 Many business owners stick with the same VAT setup they chos...
18/09/2026

Is your business using the most tax-efficient VAT scheme? 💭

Many business owners stick with the same VAT setup they chose when they first registered, leaving them missing out on potential cash flow boosts and simpler admin as their operations scale.

A quick audit can help you identify whether your current scheme is still working for you or costing you money:

● Review your customer payment speeds to see if delayed invoices are leaving you out of pocket, as standard VAT may be draining your working capital.

● Calculate your quarterly input VAT. High expenses favour standard accounting, while lower costs might make simplified options a better fit.

● Check your 12-month revenue against scheme thresholds to see if you’re eligible for the Flat Rate Scheme or if you exceed it.

● Measure the time spent filing quarterly returns against the operational simplicity of making interim payments with a single annual return.

Take control of your VAT strategy by reading our full guide on VAT schemes and choosing the right one for your business: https://www.onetwooneaccounts.co.uk/what-is-a-vat-scheme/

If you’re considering the Flat Rate Scheme to streamline your bookkeeping, a good way to start is weighing up the pros a...
16/09/2026

If you’re considering the Flat Rate Scheme to streamline your bookkeeping, a good way to start is weighing up the pros and cons for your business.

What works well:

● The Flat Rate Scheme simplifies your bookkeeping by paying HMRC a fixed percentage of your total VAT-inclusive turnover rather than tracking everyday expense VAT.

● While standard expenses are excluded, you can still reclaim VAT on qualifying capital assets over £2,000.

What to keep in mind:

● Most day-to-day business purchases cannot be claimed back separately.

● If you spend very little on physical goods, you may fall under the "limited cost business" rule and have to use a higher 16.5% rate.

Ultimately, while the scheme offers convenience and reduced paperwork, a simpler process does not automatically mean a more tax-efficient result for every business.

Looking to check if the scheme suits your circumstances? Give us a call or pop into the office for a chat with our helpful team! 💬

Good luck to everyone taking on the Great North Run this weekend! 🏃‍♀️🏃‍♂️ Whether you’re chasing a personal best, raisi...
11/09/2026

Good luck to everyone taking on the Great North Run this weekend! 🏃‍♀️🏃‍♂️

Whether you’re chasing a personal best, raising money for an important cause or simply determined to cross that finish line, the whole team at One Two One is behind you.

Enjoy every moment, you’ve got this! 💪

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

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