Childhood Stardom's Bitter Aftermath: A Financial Betrayal

The Initial Revelation: A Glimpse into Lost Millions

During a recent appearance on the "Rosebud Podcast," celebrated actress Hayley Mills candidly discussed the disappearance of millions of dollars she earned as a child star. Mills, who gained immense fame as a Disney icon in the 1960s with films like "The Parent Trap," "That Darn Cat!," and "In Search of the Castaways," revealed that her substantial income had largely vanished, humorously attributing it to "the tax man."

The Trust Fund Dilemma: A 90% Tax Burden

Mills elaborated on the significant financial loss, stating it was "most of it" because her earnings were meticulously placed into a trust fund. This measure was taken due to the staggering 90 percent "supertax" imposed in Britain at the time, necessitating a protective strategy for her wealth.

The Advisor's Role: Unsound Guidance and Deception

The decision to establish the trust fund was made on the advice of Stanley Passmore, a financial advisor who also managed her father's finances. Mills characterized Passmore's guidance as "not very well-intentioned."

A Legal Precedent and a Startling Discovery

Mills explained that Passmore was also involved in setting up a similar trust for actor Jack Hawkins, which faced scrutiny from the Inland Revenue, ultimately influencing British law. Consequently, when Mills turned 21, instead of gaining control over her accumulated wealth, she was presented with a devastating revelation. "I was handed an envelope across a green baize tablecloth by Stanley, which was the Inland Revenue basically saying, 'Thank you. You owe us 90 percent of your earnings.'" Confused, Mills inquired about the meaning of this pronouncement. Passmore's response, delivered with a laugh, was simply, "Well, I think it means you have to move to America." Mills unequivocally labeled him a "crook."

Reflections on Lost Opportunities and Freedom

In a 2021 interview with The Times of London, Mills expressed that receiving her earnings would have been "very nice." She mused that the funds could have afforded her a larger home or a more luxurious vehicle. However, the most significant benefit, she noted, would have been the "freedom to say no and not to have to go America for work or whatever after that."

Early Career Success Beyond Disney

Before her celebrated tenure with Disney, Mills made a notable debut in the 1959 British crime drama "Tiger Bay," earning a BAFTA for most promising newcomer. In the same year "The Parent Trap" was released, she also starred in "Whistle Down the Wind," which garnered her a BAFTA nomination for best British actres