Hayley Mills Shares Far Worse Suffering She Had Than Losing Hard Earned $17M as Child Star
Former Disney star Hayley Mills, who appeared in big shows such as "The Parent Trap" and "That Darn Cat!," also had her downside turn when she lost $17 million as she turned 21.
Mills was one of the most famous child actors back in the 1960s of Hollywood, where with the help of her appearance on Disney films, at 14-year-old, she was a major star. According to an interview, the star also had a battle with bulimia around that time.
However, in her new memoir, "Forever Young," she admitted that she was shocked to find herself penniless by the time she stepped into adulthood, after starring in a lot more movies. Other than co-Disney "Kim Possible" star Christy Carlson Romano squandering her money, there is a lot worse than that.
How Young Mills Started
As reported by this article, the former child actress grew up with entertainment industry exposure back in the UK. Her mother, Mary Hayley Bell, was an actor and playwright, and her father, John Mills, was also a star in Britain.
The young Mills appeared in the movie "Tiger Bay" back in 1959 along with her father, which is why she had a deal with Disney. The deal came in with a lead role in "Pollyanna" after one year and then "The Parent Trap" in 1961.
Back in the days, "The Parent Trap," where Mills became a part of, had a successful history in film, which grossed $25.1 million at the box office. She even received a "Juvenile Academy Award," which is an honor that they had previously given to child luminaries, including Judy Garland and Mickey Rooney.
91% Tax Damage
For the next six years, her career still flourished at Disney until she left. As she received her biggest payday after all her hard work, Mills was shocked when she retrieved her paycheck as she turned 21.
The money she earned was heavily taxed by the British Revenue Service, at 91 percent. In an excerpt revealed by The Daily Mail from her memoir, it was shown how it was explained to her, "Well, my dear, basically, the Revenue have attacked your trust company," her lawyer Stanley Passmore told her. "I felt the blood drain from my face," she recalled.
Mills was later told the high tax rate was meant to help the Inland Revenue Service rebuild England after World War II. The actress submitted a tax appeal, and after two years, a judgment was ruled against her. For her second try in 1971, she lost again.
By 1972, she wrote in Forever Young, "my tax case went up before the Master of the Rolls, Lord Denning. Pointing out that I'd already paid tax on my earnings and shouldn't have to pay a surtax, he ruled that the money belonged to me," she wrote.
After she celebrated momentarily and shot the appeal down for good, Mills said she ultimately lost around £2 million, the equivalent of $17 million today.