Jamie Watts
Commercial Director
R&D tax relief remains one of the UK’s most important incentives for supporting innovation. But as the regulatory landscape continues to evolve, businesses face greater scrutiny when making claims, making accuracy and compliance more critical than ever.
Our Commercial Director, Jamie Watts, was asked by Sofia Karadima from Actum Group to give his insight on how innovation incentives, like R&D tax credits supports the venture capital and private equity community, the sectors that are shaping investment priorities, and the challenges ahead.
A tougher environment for R&D claims
HMRC’s clampdown on non-compliant claims has raised the bar for businesses looking to access R&D tax credits. Even companies undertaking genuine innovation risk delays or rejections if their submissions lack precision.
That’s why Amplifi has expanded its technical assessment team — bringing in experienced engineers from across industries — to ensure every claim is both robust and fully defensible. As Jamie explained:
“All R&D tax relief advisors need to be as precise as possible on the technological and scientific challenges businesses face to generate a fully compliant claim and then be prepared to support that claim in the case of an HMRC enquiry.”
Where investment is flowing
From our vantage point supporting venture capital and private equity firms, we’re seeing clear shifts in sector activity:
- Cybersecurity continues to attract strong backing, with success stories such as Quorum Cyber Security.
- MedTech is thriving, with companies like TympaHealth and Neurovalens using R&D incentives to accelerate growth and attract significant funding.
- Investors are showing less appetite for SaaS, instead favouring tangible, product-based businesses in fields like advanced manufacturing.
- The anticipated surge in climate tech and renewables has yet to materialise at the expected scale.
Planning ahead with confidence
Following the October 2024 UK Budget, businesses finally have more clarity around R&D tax relief, with no further changes announced. However, investors remain cautious and selective, heightening the importance of rigorous planning and compliance.
As Jamie highlights, R&D tax credits shouldn’t be seen as a one-off exercise — they’re most effective when built into a company’s ongoing growth strategy.
“The market is constantly evolving, but businesses that plan ahead and work closely with experts will continue to thrive.”
You can read the full interview with Jamie on Actum Group’s website here: Read the full article
