| UPDATED: 21:35, Mon, Dec 28, 2020 Link copied Make the most of your money by signing up to our newsletter for FREE now SUBSCRIBE Invalid email When you subscribe we will use the information you provide to send you these newsletters. Sometimes they'll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time. Inheritance tax (IHT) is levied on the estate of a person who has passed away, and is taxable at 40 percent above a particular threshold. With people looking to reduce these costs for loved ones, many have chosen to draw up a will - which has particularly been the case throughout the COVID-19 pandemic. However, the number of people choosing to do this arrangement themselves, rather than consulting a solicitor has drastically increased, leaving some concerned about the consequences for Britons.