Hi Damion Yates,
We are unable to give financial advice.
There are no Income Tax implications on the giving or receiving 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
Non cash gifts are a different matter, as the person giving the gift may be subject to Capital Gains Tax and the recipient if they dispose of the non cash gift.
Capital Gains Tax: what you pay it on, rates and allowances