Contracting through a Limited Company - Accounting software?

Croftyness

Wasn't really sure where to put this.
Does anyone run their contract work through a limited company for tax efficiencies?
If so, do you use accounting software and would you have any recommendations? 
Most activities would fall under invoices, payroll, expenses and dividends.
I'm working from the UK and international currencies would be a factor.

Eric Chadwick

This is the right place. I haven't used a LLC, though others might have.

JEmerson

USA Answer: Quickbooks or any similar accounting software are good options. Another option includes NCH Software suite (which I have used previously). Either would probably suit your purposes, but Quickbooks is the typical catch-all. As for tax efficiencies, make sure to work with your accountant to ensure your liability is where you want it to be, ownership shares are correctly calculated at end of fiscal year, etc . . . In my state it was a good business practice to have an LLC for a while (LLC income was exempt) and pay yourself via the LLC to avoid state tax liability (no longer the case) - but a lot of independent contractors do this sort of thing (and not just for tax purposes). The biggest key will be to make sure you are not mixing your personal and business finances (again, work with an accountant).

Neox

which country? because usually you have pretty country specific software solutions

Croftyness

@Sigmafie Thanks, I'll take a look . In the UK they are lowering the tax threshold for "optimal salary". At the same time, they are halving dividend allowances. Sad face. Regardless, it's still the most efficient option if you don't mind the administration.

@Neox The UK. Just updated my original message.

sacboi

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Replied to wrong thread.