Sole Trader

I am a sole trader i have taken £40000 wages this year but i will also make a profit of £30000 + how much take will i pay on the profit if i take it out of the business

As a sole trader you will pay tax on the profit of the business. Being self employed you dont actually take a wage in the traditional sense! Therefore, unless you have a profit carried forward from previous years in excess of £10,000 you actually owe your business £10,000 (and dont forget what you owe to the tax man!).

Bear in mind that AAM is an Irish based site. The advice given here may not be entirely relevant if you are a UK based poster ( given that you mention £ in your post )