Yes you can log onto different accounts from the same line with adsl. As long as it is the same ISP ( is to do with the routing on the BT IP network) But why youd have to pay through the nose for 2 ADSL accounts.
Much easier to buy a ADSL router and then run CAT5 Ethernet. It is capable of a good signal without significant signal loss up to 100 meters. Can't see many cases in a home setting needing more then that. And even then you just need to plug in a hub or switch and presto another 100 meters! Bundles of CAT5 cable is cheap too & patching together the cable end connector is easy (tools, cable & testing kit etc all sold at PC world or online via Dabs etc!). And all the above is good fun anyway, and a learning experience to boot.