I have 5 friends and we have an option on a building site - we have a company at the moment.
We want to build the project. We will pay cash from all 5 people for the land but through a vehicle ie trust or company and then that vehicle will need development finance. What is the best vehicle to use unit trust? and how does stamp duty work and how does the title transfer at the end.
A lot will depend on what is being built and what each of the 5 partners intend to do at the completion of the project.
Start with the end in mind, but with flexibility if circumstances change.
If it's multiple dwellings and some wish to keep consider a partnership (of trusts, companies or individuals). Stamp duty on completion you want to minimise as well as crystallisation of gains.
Good luck with it.