Cash gift from parents outside UK

Hi, I am a UK national and I am looking to receive £150,000 from my parents, who are in India, as a cash gift. The money will be transferred from an Indian bank account to my UK bank account to buy a house in the UK. Do I pay tax on that amount?

Hi Saishp,

Gifts of cash from relatives overseas have no income tax implications, but any interest or dividends generated when the funds are deposited in a UK bank account may be taxable.      
Tax on savings and investments: detailed information.

Thank you.