Amplifi Solutions boosts Scottish client base
Corporate WeDO members Amplifi Solutions, which specialises in research-and-development (R&D) tax credits, has boosted its client base in Scotland and unveiled key appointments.
The firm has signed up digital transformation company ClearSky Logic, mobile ticketing and sports fan experience start-up Fanbase, and candle-making supplier Candle Shack, among others in 2022.
Jamie Watts
Picture: Stewart Attwood.
Commercial director Jamie Watts said:
“It is an interesting time for our client portfolio, which includes multiple knowledge-intensive companies who are enhancing their valuations by carrying out high-level R&D.”
Amplifi, which launched its Scotland office in 2019, having been founded in Belfast in 2014, also noted that it has strengthened its executive advisory team with two appointments. They comprise Patricia Harvey, who specialises in tax incentives, including the R&D Tax Credit scheme, and Andrew Blackstock who will lead the technical writing team.
The business also flagged the recently proposed changes by HMRC to qualifying R&D expenditure, including the potential inclusion of data and cloud computing costs, Jamie said:
“When you look at technology-focused companies in particular, including Scottish-based start-ups and scale-ups, that’s where we expect to see the greatest benefit.”
Amplifi believes the impact of upcoming legislative changes, including an increase in corporation tax for more profitable companies, could be partially mitigated by making better use of tax incentives, and it sees increased cashflow pressure on tech companies as a worrying trend in the market.
Jamie commented, whilst urging companies to use all the tools available to them to navigate changes:
“We’re finding that there are cash runway concerns for early-stage businesses as investors become more prudent following the decline in valuations in the tech sector,”
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