Receive a gift from parents in crypto

Hello! I'm planning to receive a gift in crypto from parents that live abroad. I'm planning to send money straight away to my UK bank account after I received it. Do I need to pay any kind of tax on these money? What kind of documents I'll need to provide to hmrc or my bank to confirm that this is a gift from my parents? Is informal letter in English that states that my mom gifts me these money enough in that case? Just wanted to make sure I won't have any issues with such kind of transaction and it will be accepted. Thanks

Hi,

The receiving of the gift is not taxable but if you then later sell the crypto you may be liable to Capital Gains Tax. Your parents should check the laws of their country to see if any gain is due on them gifting the crypto to you.

Thank you.