Don't forget the dreaded VAT -
If you're in business, you must register for VAT if your VAT taxable turnover for the previous 12 months is more than £73,000. This figure is known as the VAT registration threshold. The threshold changes - usually once a year announced in the Budget - so you should regularly check your turnover against the current threshold.
You must also register for VAT if either of the following applies:
you think your VAT taxable turnover may go over the threshold in the next 30 days alone
you take over a VAT-registered business as a going concern
if the above applies then £20 out of every £120 you take (less VAT paid on costs) belongs to the VAT man immediately - hot takeaway food is subject to VAT even though you don't pay VAT on the raw food.