It's not that I want the same PSN for both profiles only that I would like to make a new profile and use my PSN account on that instead as I REALLY hate my name.
No, you can't change the account your PSN 'subscription' is attached to, however if you only have the One PS4 then you can set this PS4 as your primary system and any account on there will have access to PSN as if it was subscribed.
So simply do this:
- From the existing PSN subscribed account make sure this PS4 is your primary PS4
- Create another account and use it normally
- Once your PSN expires on the 'old' account simply apply it on the new one instead.