Child Star Lost Millions to Tax Man

Former child star Hayley Mills recently discussed how she lost a substantial portion of her Disney-earned fortune. In a 2017 interview, Mills explained that a 90% super tax in the 1960s, combined with poor financial advice, led to the depletion of her earnings. Her fortune was held in a trust fund, but upon reaching 21, she was informed she owed 90% of her earnings to the Inland Revenue.

Mills' legal fight to retain her money was arduous. Although a judge initially ruled in her favor in the 1970s, the House of Lords overturned the decision. Her final appeal to the British government was denied in 1975. If she had won, Mills would have retained approximately 2 million pounds, equivalent to over $17 million today. Despite this financial setback, Mills continued her acting career, seeking more diverse roles beyond her Disney work.