1. Dear *****, Inheritance only applies to you if your parents die within 7 seven years of the making of the gift. Essentially, there is no Gift tax in the UK but Inheritance tax applies as a residual tax where the person gifting the gift does not live for seven years. Essentially, there is a tapering level of tax over the seven years during which the IHT rate reduces to zero over those seven years. It makes no difference that your parents live in Germany. Once you, the beneficiary, are present in the UK you are subject to the British rules.
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