HMRC has issued an urgent warning to anyone with a certain amount of money in their savings account.

People who have £7,500 or more in a savings account have been warned over a shock HMRC bill.

Key mistakes and pitfalls in the savings account process have been explained by a personal finance expert amid the ongoing Cost of Living crisis.

Laura Suter, director of personal finance at AJ Bell, explained: “While lots of people are using ISAs to protect their money from tax or organising their…