Gift of Cash and Inheritance Tax

Dear HMRC, My sisters would like to give me gift of cash to buy a flat in England. I live in England with BNO (British National Overseas) visa but my sisters live overseas and are not UK citizens. Will I have to pay tax for this gift of cash I received from my sisters? And if my sister(s) dies, will I have to pay any inheritance tax or other type of tax in the UK? Thanks and regards, Alice

Hi,
There are no Income Tax implications on the 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 dividends
Thank you.