My parents lent us some money ten years ago from a trust they'd set up for their pension. This was to help buy a house. I've been declaring the loan on my tax returns and the tax is calculated on the base rate (no idea if I've got this correct).
My parents recently told me they've been quietly saving an equivalent amount of money to give my sister, and that they no longer wanted me to pay back what they'd lent us.
How do I sort this now with respect to tax?