Business Startup Forms

I just started an online business and earn money it is obvious that I will send my application to start shortly. How should I keep aside for my taxes and other fees? I was going to keep 50% of my profits just so I know I'm safe when I pay my bills, but nobody knows a more accurate figure?

I also work a full time job so you know. (I'm sure that will affect things)

It depends how much you earn employment. The tax normally be 20%, but you can go higher rates (40%). Remember the self-employed must pay Class 2 and Class 4 NI contributions, too.
Look http://www.hmrc.gov.uk/rates find different rates and limits.

If you already have a job and pay tax through PAYE, then additional income would be taxed at the basic rate is about 24%, however, if your earnings go-45k (approx) then you go in a higher tax bracket.

You are doing the right thing by setting aside a greater percentage of your earnings that you really need, which means the additional taxes you incur will be fully covered and you'll get a little more for yourself after you pay your tax bill.

Try to talk to an accountant for a small fee per month, they sort out all your finances for you, and remember, their expenses are tax deductible at the end of the year.