CAR2022

Hello, I am a German citizen, live and work for 8 years with a permanent residence and work permit in the UK and pay income tax. Now my question: My parents intend to transfer a property in Germany to me (by way of a donation). In Germany, the gift will be encumbered with a usufruct right and a right of reclaim in the event of my death. This means that as far as I die before my parents, the property in Germany will fall back to my parents. In Germany, the entire process is not subject to any tax. What about the UK, does this retransfer process fall under English tax law in the event of my death and would then be subject to inheritance tax for my parents via the allowance of € 325,--000? My parents' place of residence is Germany. Many thanks for your reply.