[TW]Fox pretty much nailed it. Gross figures are largely meaningless, if you don't know the net figures.
Turnover just gives you the value of sales receipts. Gross profit is those receipts less the cost of sales. So, whatever you bought to resell, deduct the cost. If you sold £200,000 worth of newspapers, but you paid £130,000 for them, the gross profit would be £70,000.
But, what does it cost to run the place? Do you have to pay staff? What about rates, powerand utility bills, insurance, and so so. If you had £50,000 of such costs, that £70,000 gross is now down to £20,000 net ..... and you haven't paid any tax yet.
Tax will depend on the legal structure of the business. If it's a limited company, then you can deduct any staff salaries, including your own, from gross profit before leaving a net profit, which is then subject to Corporation tax. Post tax profit can either be reinvested, held in reserves or distributed to shareholders.
But, shareholders then pay personal tax on the dividends. And, the business has to pay employer's NI on any PAYE paid too, and of course, you have to do the book-keeping for PAYE/NI for employees, including yourself.
If, on the hand, the business is not a limited company, then it is effectively the owner "trading as". In that case, there's no PAYE, you pay self-employed NI and the income received from the business is subject to personal Income Tax, not Corporation Tax.
Which is the better legal structure is a complex issue, because there are fairly significant tax differences, and because there are VERY different implications in terms of personal liability.
Oh, and the 'analysis' in this post is VERY simplified. It is, obviously, a lot more complex than I've said. I've just painted the outlines.
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
This would be my business and I would only be limited by my imagination as to what I could do with it 
It would almost feel like they would be prisoners in their own home. 
