Does Tax or Business spending come first?

I am looking to invest in another business before the end of this tax year, but fear that the money I can invest might go in taxes as I have spent a large portion on building up my current business and whatever profit I have left I am planning on putting towards the next enterprise.
Do I have to save the money to pay tax first or would this qualify as a legitimate business expense?

I intend to cover the tax, but merely need to know if the tax would be due on the profits for that year, as the acquisition of a new business within the current one; would that be an expense that would be deducted from profits or would I still get taxed on the value I paid for the new business setups as well.

There is no tax relief on buying a business - its a capital investment which is counted when you come to sell. You would need to meet your tax liability for the year in question as each tax year sits on its own. If, however, a second business made a loss, then you could potentially carry that loss back to previous years, but in the meantime, the tax has to be paid.

Always ensure tax is covered first otherwise the business is doomed

No, tax is a charge on the business and is not an allowable deduction in the computation of profits.

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