A property tycoon has warned of the consequences of trying to avoid paying inheritance tax by passing on money and property to offspring early in life.
Manny Davidson registered Lyegrove House, a grade-II listed Jacobean building in Old Sodbury, South Gloucestershire, in the names of his children, in order to avoid a large tax bill when he died.
The children have now put the property up for sale at £12m, and are also trying to change the structure of a family trust fund.
