You say you are inheriting €20k from UK, who are you inheriting from, i.e. what relationship is the deceased to you?
When you say your €500,000 threshold has been used up, can you explain this a bit more?
The rule is, as far as I know, that when you are resident or ordinarily resident in Ireland, all property worldwide is liable to CAT (Gift and Inheritance Tax)
So the only way, in my view that you could be liable to Irish tax on the UK bank account is if you have already used up the threshold applicable to the person you are taking the bank account from in UK.