A landowner contacted Private Client Partner David King when he was considering making a gift of a piece of development land into trust for tax planning purposes.

By putting the land in trust now, given the debt that was attaching to the land, the landowner was able to move the assets outside of his estate in a tax-efficient manner.

David  set up the trust to hold the land.

David’s client said that he felt the matter was handled in a very professional, clear and concise fashion. He also noted that David was able to provide clear advice without the use of legal jargon.

David said: “In cases like this, particularly with development land, putting the assets into trust can be tax-efficient. The key is undertaking the transaction at the right time and taking advice at an early stage is advisable”