Inheritance tax rules with parents living abroad (Zimbabwe)

Hi I was born in Zimbabwe but am a British passport holder, citizen, resident, living in the UK for 4 years and paying tax in the UK (only). My parents are British passport holders and citizens BUT were both born in Zimbabwe and have never lived in the UK, worked or paid tax in the UK. They don't own any property or have any assets in the UK. They do however have some money in an Isle of Man based international bank account. My question therefore is twofold: - If they send that money (over £50,000) to my UK bank account now (ie. before they die), am I correct that the only tax I will have to pay on it will be tax on interest earnt once it is in my account? - When my parents die, will I be liable for inheritance tax on this and any other money I receive from their estate in Zimbabwe or will this only be subject to Zimbabwean inheritance tax rules? Essentially asking whether UK inheritance tax rules apply to a) money coming from their Isle of Man based international bank account and b) money coming from their accounts/assets in Zimbabwe? Hope that makes sense!

Hi Elizabeth Arscott,
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 are no tax implications on the giving or receipt of cash gifts, but you may wish to speak to Inheritance Tax regarding any Inheritance Tax implications:
How Inheritance Tax works: thresholds, rules and allowances
Inheritance Tax: general enquiries
Please note Inheritance Tax queries are not dealt with on this Forum and you may wish to contact the Inheritance Tax Helpline on 0300 123 1072 if the above link does not answer your query.
Thank you.