Hayley Mills Reflects on Her Financial Struggles Post-Disney Fame

Disney star Hayley Mills opened up about her financial challenges after achieving fame through her roles in films like ‘The Parent Trap’ and ‘Pollyanna.’ On the Rosebud Podcast, she discussed with host Giles Brandreth how the “millions and millions” she earned vanished due to poor financial management.

“I gave it to the tax office,” Mills revealed, noting it was a substantial amount lost. Most of her earnings were placed in a trust fund, and back in those days, the tax rate was a staggering 90 percent, leaving them little choice but to try something.

Brandreth suggested that her father, esteemed actor Sir John Mills, might have contributed to the situation. He pointed out that while her father may not have received the best financial advice, there was also an underlying innocence and optimism about him that played a role.

Mills’ sister, Juliet, shared that their father had a manager to help with his finances, but it seems the advice didn’t pan out. “I tried to give my dad some advice, but it didn’t really work,” Mills mentioned reflectively.

When Mills finally went to access the funds from the trust set up by her father and his manager, she discovered it was improperly established. As reported by The Independent, she ended up facing a hefty 91% surcharge to withdraw her money.

“A trust company was created for me and also for actor Jack Hawkins, and then the Inland Revenue targeted his trust company, creating a precedent in British law,” she explained.

“So when I turned 21, instead of a key to my future, I was handed an envelope that essentially told me I had to pay 90 percent of my income to the IRS,” she said. There was a feeling of betrayal. “He was a fraud. He didn’t give us the Flying Dutchman,” Mills lamented about her trust management experience.

Mills even tried to take legal action with a prominent lawyer, but ultimately, her case against the British government was dismissed after years of effort, despite some progress along the way. “It didn’t work out,” she admitted, acknowledging the toll it took on her life and career.

Admittedly, she struggled to navigate her career afterward. “I didn’t really understand my career or what I was supposed to do, but I didn’t want to do any more Disney movies,” Mills said.