Receiving a cash gift from relative living overseas

[Thingamebobwotsit]

Hoping someone on here can advise. I have an elderly relative who moved overseas about 25 years ago, still receives a UK pension and is a UK citizen. They want to give me a sum of money in lieu of an inheritance value to be decided but somewhere between £10k and £20k.

What are the tax implications of this? I am a higher rate tax earner (UK) and I really don't want them giving me cash if I am honest. They really need to be saving it in my opinion for their own care and i have suspicions that most will go to the tax man. But in practice they probably only have about 6 months left to live.

Thanks in advance... this is causing me a bit of a headache.

bung it in an easily accessible account if you think they’ll end up needing it for care

it’s not a huge amount by any stretch and interest rates are still pretty paltry so i wouldn’t stress too much about the rax
implications

If they were living in the UK, from my understanding, the only tax implication is inheritance tax. Your higher rate status when receiving a gift is irrelevant.
So if your relative is likely to die soon, it’s the total size of their estate that will affect the tax liability.
They can give away £3000 per year tax free, but that’s in total not to each person.
However the actual answer might depend what country they live in and what tax agreements are in place between that country and the UK.