Receiving money from my parents in Spain

Hello, my parents want to gift me 10000 euros to help me with the deposit for a house. Do I need to declare that money? If I save the money on an ISA account, that would generate interest, would that mean I have to pay tax? Thank you and sorry I'm new to all this.

Hi Julia Moreno,
If your parents reside outside of the UK, they will have no UK tax to pay on the gift.
If you place the gift into an ISA, then any interest it generates, is not taxable.
Thank you.