Money transfer from overseas - will it be taxed?

investing

Hi all,

I will have about £15,000 transferred over from my parent's overseas accounts to my UK account.

Will it be taxed?

If so, will a smaller amount be untaxed?

Thanks

scottishblondie

It's not income so income tax isn't a consideration, and there is no tax on gifts in the UK. There may be taxes for them to consider in the originating country tho.