James Hender - Spear's Magazine

James Hender

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James Hender
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James Hender has advised a broad client base of financial services workers and the first-generation wealthy for many years now. ‘[Clients] tend to be UK-based people; they tend to be domiciled people. It’s those high-end, wealthy families and their business interests,’ he says.

Hender says he has observed four or five years’ worth of change in the last few months because of digitisation, due in no small part to the coronavirus pandemic: ‘In terms of how we operate, how we interact with clients and how our clients want to be interacted with, we’ve speeded up.’

‘The trick is to keep delivering excellent client service in a new way,’ he adds. ‘Clients are looking to have highly efficient, costeffective compliance with leading advisory people who say, “OK, I’ve seen this before and I understand what is best for you in your circumstances.”’

Advisory services are only going to become more valuable as we exit what Hender describes as ‘a benign period for the higher earners’. For the past 30-40 years, he claims, the consensus has been to keep taxes down to encourage economic activity. With the expenditure brought about by coronavirus, it may well be that politicians will need to tax high earners more heavily.

‘The risk there is that a lot of HNWs are very portable,’ he says, ‘so if the government puts too many taxes on, then the wealthy will vote with their feet.’