Inheritance tax on monthly cash gift

I receive a monthly cash gift of £500 from a family member. Please could you let me know the inheritance tax implications for myself as the beneficiary? Many thanks.

Hi,
There are generally no Income Tax implications on the giving of or receipt of a cash gift unless the cash gift generates interest or dividends. These would then potentially be subject to tax.
Further guidance can be found here Tax on savings interest: Tax on savings interest.
Tax on dividends: Tax on dividends
Inheritance Tax is only due when a person's estate is worth over £325,000 when they die, or if the person who died gave away more than £325,000 in gifts in the 7 years before they died.
The rules on giving gifts can be found here: How Inheritance Tax works: thresholds, rules and allowances-tax/gifts.
You may also want to review the guidance at: How Inheritance Tax works: thresholds, rules and allowances.
Thank you.