I'm in the process of setting up some income streams on the side (online businesses). Current situation is I'm a 45% tax payer. I assume the default situation is I'd therefore pay 45% tax (plus 2% NI) on any profits. Issue I have with this is given the amount of time it takes to generate this income and the work put in (at the beginning anyway) the hourly earnings are far less than my 9 to 5 after tax and getting to the point where I'd begin to think it probably isn't worth continuing with.

I know I could incorporate a business and pay corporation tax at a lower rate however if I took money out of the business am I right in assuming I'd pay 45% on that (as well as corporation tax?).