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Recipients of gifts don't pay tax on them in the UK so you won't be taxed personally. So long as your fiance is not a UK resident for tax purposes, he will not be liable for UK tax on his earnings.
As your fiance appears to be a British national, the gift may be a potentially exempt transfer for Inheritance Tax purposes. However, so long as he lives for seven years after making the gift, it will not form part of his estate and will escape IHT. If he has never lived in the UK, then he may be able to claim that he is non-UK domiciled in which case there would be no possibility of an Inheritance Tax should he die within seven years of making the gift. Look here for information on Inheritance Tax.
I hope this helps but let em know if you have any further questions.
A bank transfer would be fine but you should give advance notice to your bank to avoid their money laundering software causing problems given the size of the transfer. It would be a good idea to have a letter from your fiance setting out the details of the gift.
Residence has nothing to do with IHT. It's governed by domicile. You can read about domicile in section 5 here.