The firm, which has an office in Edinburgh, 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.
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 after being 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, and Mr Watts 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.
“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,” said Mr Watts, who is urging companies to use all the tools available to them to navigate challenges.