A quick answer is you dont need to pay tax on the money that you received as a gift. However, the people who give you money is liable for the tax which is under the category of inheritance tax.

The annual exemption of inheritance tax for current tax year (2012-2013) is £3000, i.e. You have to pay tax on the exceeding amount. There are also some other exemption such as wedding gifts. For more updated information, check HM Revenue & Custom's official page here.