We are unable to confirm which option you must choose. Only you can do that. The information and links below might help you reach a decision on which option is appropriate to your circumstances.
There are no Income Tax implications on the receipt of a cash gift unless the income 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
You will need to assess your residence and domicile situation. To do this, please review the guidance below and apply the tests at RDR3.
Residence, domicile and the remittance basis: RDR1
If you are resident and domiciled or deemed domicled in the UK, the you must declare all of your world-wide income each tax year you are resident in the UK, regardless of how much money is involved.
If you are resident, but not domiciled in a tax year, and your foreign income in that tax year, is not remitted to the UK, then it is not taxable in that tax year. If, however, you bring that income into the UK in a later tax year, because you were resident in the UK when the income arose, you would be liable to tax on that income in the tax year you remit it to the UK. If you never remit the income to the UK, it will never be taxable in the UK