Gift with Reservation of Benefit?

Hi, my client has made a gift but I'm not sure how it would be treated from an IHT perspective. He gave away a piece of land that had planning permission on it, and some foundations for a house, to his child. Let's say it was worth £150,000. The intention from the start was he would move in with his child once the build had been completed. A year or so later, the child had funded the rest of the property build and Dad moved in. Let's say the property is worth £500,000 now. Dad does not pay rent. I'm not sure whether this is a Gift with Reservation of Benefit or not, because the gift that was made is not the same as the property that's now being enjoyed. Could you please give some guidance?

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