Tax on Gifts and Inheritance received overseas from non UK residents

Hi, I am a UK resident and my parents live overseas and were never UK citizens or residents. They want to give cash and/or property overseas as a gift. Does this trigger any tax for me on receipt? I understand any income generated post my receipt will create an income tax due on my behalf. On the same lines, if on their death, my parents pass on any estate in the form of overseas cash or property to me - does it trigger any inheritance tax that I have to pay? Thanks

Hi benoy,
There are no tax implications on the giving or receipt of cash gifts, but you may wish to speak to Inheritance Tax regarding any Inheritance Tax implications:
Rules on giving gifts
Inheritance Tax: general enquiries).
You may also want to review the guidance here:
How Inheritance Tax works: thresholds, rules and allowances Skip to contents of guide Contents
For the property, you wil need to declare any rental income or gain that this generates.
If you make this your main resdience then no capital gains will be due.
Thank you.