Gift from parents

If my parent who live in aborad give me the gift £60,000 today before they immigrate to UK (let say 15 Mar 2023), will they need to may tax? Or if they died within 7 years, do I need to pay these amount for inheritance tax?

Hi,
 

Please note that gifts of money from parents overseas are not liable to income tax. Enquiries re: any inheritance tax implications should be directed to HMRC's Inheritance Tax helpline :                                        : Inheritance Tax: general enquiries   . Thank you.

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