Cash gifts received from abroad

I am a Spanish national with tax residency in the UK. I am having some financial difficulties and my parents will likely give me a gift of 80,000 euros plus 3,000 euros per month. Does this have income tax implications in the UK? What about Inheritance Tax implications in the UK?

Hi Diego Sanchez-Ancoc,

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 and Tax on dividends.  

Thank you.