Large cash gift from parents in France

[solep]

Hi,

I was gifted £150,000 by my parents who are French residents in their 60s to help me buy a flat in France.
The money is on my bank account in France and is exempt from tax in France. It is not transferred to the UK.
I am about to buy a property in France as an investment. I am a UK tax payer.

I wanted to check that I am not going to owe tax on this gift to HMRC?

Many thanks

[pawncob]

Gifts of money are not taxable on recipients in the UK.

[Eldercare]

Is it not the case that what we understand as the "7 year rule" in UK is mirrored in France as a "15 year rule"?

[maths]

If your parents are non-UK domiciled then no UK IHT applies to the gift.

If they are UK domiciled then the gift is a PET and UK IHT may apply if they die within 7 years of making the gift (depends upon their nil rate band availability). The liability, should there be one, would be yours.