Tax on foreign property gift

Hi, I was hoping to get some information on the following situation: My parents (German citizens living in Germany) would like to gift me (German citizen resident in the UK) a house (in Germany) that is being rented out. In the gift agreement, there would be a clause stating that my parents will have indefinite right to use and benefit from the property (eg collect the rent), even though I would legally own it. That means I would have no income whatsoever from the property. Would I have to pay taxes on this gift in the UK? I'd be grateful for any advice you could give me.

Hi,

Please see Tax when you sell property.

Tax when you sell property

There will be no tax for you to pay when the property is transferred to you but you may be liable for Capital Gains tax when you sell the property.

Thank you.

Thank you very much!