How did Hayley Mills lose her Disney earnings?

Hayley Mills lost most of her Disney earnings due to a 90% super tax and poor financial advice regarding her trust fund.

What was the outcome of Hayley Mills' legal battle over her taxes?

Hayley Mills lost her legal battle, with her final appeal denied in 1975, resulting in the loss of a significant portion of her fortune.

How much money did Hayley Mills lose due to taxes?

Hayley Mills stated she owed 90% of her earnings to the Inland Revenue, and if she had won her case, she would have kept over $17 million.

Home / Arts and Entertainment / Child Star Lost Millions to Tax Man

Child Star Lost Millions to Tax Man

3 May

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Summary

Former Disney star Hayley Mills lost nearly all her earnings to taxes.
Poor financial advice and high tax rates depleted her fortune.
A legal battle over her trust fund was ultimately lost.

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.

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