The inheritance tax threshold is currently £325,000 and allowances and the ability to increase the standard threshold mean many may not end up being affected by the levy. However, there are mistakes which people could easily make, and it could lead to a significant inheritance tax bill. Hugh Johnson, financial planner at Old Mill, told GB News that “one of the most common mistakes people make” when it comes to inheritance tax is “simply not talking about it”. He said: “Managing IHT usually involves a long-term strategy with planning deployed over a number of years. “Many families avoid uncomfo…