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Hayley Mills Discusses Earning Losses from High Taxes and Advisor Mismanagement in Podcast
Veteran actress Hayley Mills discussed on a recent podcast how high taxes and poor financial advice led to the loss of her earnings from Disney films. She detailed a trust fund setup that resulted in a 91% surtax payment. The revelations highlight historical tax challenges faced by British entertainers.
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Veteran Disney actress Hayley Mills revealed in a recent podcast that she lost most of her earnings from hit films to high taxes and mismanagement by advisors. Appearing on the April 17 episode of 'The Rosebud Podcast,' Mills told host Gyles Brandreth that the millions she earned through her roles with Disney slipped through her fingers because it was mismanaged.
Post by @DailyCaller on X
Mills explained that her earnings were placed into a trust fund due to the 90% super tax rate at the time.
Brandreth suggested that Mills' father, Sir John Mills, contributed to the issue through naivety and poor advice. Mills' sister, Juliet Mills, noted that their father's advisor, Stanley Passmore, handled the finances inadequately. ' @DailyCaller reported that Mills revealed she went to collect her money from the trust established by her father and Passmore, only to discover it was not set up correctly.
Instead of receiving her funds, Mills faced a surtax of 91%, according to a previous report by The Independent. She described the moment: 'And so, when I reached 21, instead of being given the key to the door, I was handed an envelope across a green baize tablecloth by Stanley, which was the Inland Revenue saying, ‘Thank you.
Mills added that Passmore was involved in setting up a similar trust company for actor Jack Hawkins.
The Inland Revenue attacked Hawkins' trust company, which affected British law and created a precedent, Mills said. This legal outcome impacted her own situation. @DailyCaller reported that Mills pleaded her case to the British government for years, as previously detailed by The Los Angeles Times, but her appeal was denied.
