Cash gift from parents outside UK

I'm currently living in London on a Biometric Residence Permit (BRP), and this is my second year as a resident. I’ll soon be applying for Indefinite Leave to Remain (ILR). My parents, who reside in India, wish to gift me funds for purchasing a property here. Is there a limit on the amount they can gift, and would it be taxable in the UK?

Hi Shivangi Ladha,
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
There is no limit on the amount that can be gifted.
Thank you.