One minute with with Jason Fayers, Managing Partner of Scrutton Bland
What’s keeping you busy at work?
Since being appointed as joint Head of Tax for the wider Sumer Group last month, I am building opportunities within our 60 offices, across the 14 regional hubs, to share expertise, skills and knowledge, and continue to create a culture where everyone can thrive.
What do you know now that you wish you knew at the start of your career?
To ask questions. When you are young and inexperienced, you worry that you may be asking the obvious. In reality, asking questions is one of the best ways to understand clients and build meaningful long-term relationships. No question is stupid if you do not know the answer.
If you could make one change to tax, what would it be and why?
I would love to see wider and more generous tax breaks awarded to SME businesses in the UK, with greater access to funding through EIS by removing some of the limits, thresholds and restrictions, while retaining the scheme’s intended purpose: to be one of the most effective tools in UK tax legislation for opening up private capital investment into early-stage companies, incentivised by tax breaks for the investor. EIS ensures that entrepreneurs and investors can benefit from the risk and reward of being in business. That principle has been eroded in recent years by the change of focus and reduction in BADR for CGT purposes, and by changes to APR and BPR for IHT. This conflicts with the ambition of the UK’s OMBs and family businesses, whose success is imperative to the UK economy in driving growth, innovation, ambition and business leadership in our communities.
What recent development is changing how you advise clients?
HMRC’s ongoing enquiries into SME R&D claims are making this area more challenging. There is a need to articulate that our clients encounter real scientific or technological uncertainty in preparing a R&D claim. As advisers, we need to gather better evidence of the precise unknowns at the outset, why existing methods of knowledge were insufficient and what failed technically. We need to explore in detail the technical baseline, the measurable challenges and material uncertainties that require systematic development to overcome. So, this requires a more detailed and challenging approach when preparing a claim. Challenges to the SME R&D claims by HMRC add weight to the conflict between innovation and the need to support the SME community, but more clarity and consistent HMRC behaviour would help in this quest.
What’s topical in your world?
Balancing the need to embrace AI and automation in our tax practice to keep our pricing competitive, while ensuring it delivers accuracy and an effective client experience. In a people-focused sector, we need to make sure that our clients continue to receive a tailored, personal and bespoke service at all times, which still cultivates wider advisory advice and support. The skill set of our own people will need to embrace that journey too and become people and advisory focused, rather than compliance-focused data processors.
You might not know this about me but...
I am a keen runner and in 2024 I ran a half marathon every Sunday throughout the year. Running is special for me as it allows me to have thinking time. My PB may be in the past as I get older, but running remains a key part of my life – those who know me understand its importance to me.
One minute with with Jason Fayers, Managing Partner of Scrutton Bland
What’s keeping you busy at work?
Since being appointed as joint Head of Tax for the wider Sumer Group last month, I am building opportunities within our 60 offices, across the 14 regional hubs, to share expertise, skills and knowledge, and continue to create a culture where everyone can thrive.
What do you know now that you wish you knew at the start of your career?
To ask questions. When you are young and inexperienced, you worry that you may be asking the obvious. In reality, asking questions is one of the best ways to understand clients and build meaningful long-term relationships. No question is stupid if you do not know the answer.
If you could make one change to tax, what would it be and why?
I would love to see wider and more generous tax breaks awarded to SME businesses in the UK, with greater access to funding through EIS by removing some of the limits, thresholds and restrictions, while retaining the scheme’s intended purpose: to be one of the most effective tools in UK tax legislation for opening up private capital investment into early-stage companies, incentivised by tax breaks for the investor. EIS ensures that entrepreneurs and investors can benefit from the risk and reward of being in business. That principle has been eroded in recent years by the change of focus and reduction in BADR for CGT purposes, and by changes to APR and BPR for IHT. This conflicts with the ambition of the UK’s OMBs and family businesses, whose success is imperative to the UK economy in driving growth, innovation, ambition and business leadership in our communities.
What recent development is changing how you advise clients?
HMRC’s ongoing enquiries into SME R&D claims are making this area more challenging. There is a need to articulate that our clients encounter real scientific or technological uncertainty in preparing a R&D claim. As advisers, we need to gather better evidence of the precise unknowns at the outset, why existing methods of knowledge were insufficient and what failed technically. We need to explore in detail the technical baseline, the measurable challenges and material uncertainties that require systematic development to overcome. So, this requires a more detailed and challenging approach when preparing a claim. Challenges to the SME R&D claims by HMRC add weight to the conflict between innovation and the need to support the SME community, but more clarity and consistent HMRC behaviour would help in this quest.
What’s topical in your world?
Balancing the need to embrace AI and automation in our tax practice to keep our pricing competitive, while ensuring it delivers accuracy and an effective client experience. In a people-focused sector, we need to make sure that our clients continue to receive a tailored, personal and bespoke service at all times, which still cultivates wider advisory advice and support. The skill set of our own people will need to embrace that journey too and become people and advisory focused, rather than compliance-focused data processors.
You might not know this about me but...
I am a keen runner and in 2024 I ran a half marathon every Sunday throughout the year. Running is special for me as it allows me to have thinking time. My PB may be in the past as I get older, but running remains a key part of my life – those who know me understand its importance to me.
