It matters in a couple of ways.

Since you are jeweled to 110, but can still gain that skill, your gains will be as frequent as if you WERE at 110.

As we all know from crafting, gains at 85 skill come MUCH more frequently than at 110.

Also, jewels will get you past "walls". Stuck at 90.3 after 100 tames? Jewel up to 100, tame something harder. OR unjewel.

Another aspect is getting your skill to match tame spawn. Since this not an intuitive expression, an example would be:
56-60 real skill. THis is one of the hardest taming levels, not for gains, but for finding dense spawn to tame. Solution is to jewel up to 70 and tame everything walking on ice island. Same with removing jewels. Match lowered skill to densest spawn.