Harry Potter star Rupert Grint loses ₹18.34 crore in tax case: What’s his net worth?
- Grint, now 36, argued that a £4.5 million payment he received from a company managing his business affairs was a capital asset and should be taxed as such.
Rupert Grint, known worldwide for his role as Ron Weasley in the Harry Potter series, has been ordered to pay £1.8 million ( ₹18.34 crore) in taxes after losing a court battle with HM Revenue and Customs (HMRC). The dispute arose from a 2011-12 tax return, which became the subject of an extensive investigation, as reported by the BBC.
At the centre of the case was a £4.5 million payment Grint received from a company managing his business affairs. Grint’s legal team argued the payment represented a "capital asset" linked to rights, records, and goodwill from his work, making it subject to capital gains tax. However, HMRC insisted the payment should be taxed as income at a higher rate.
In a recent ruling, tax tribunal judge Harriet Morgan sided with HMRC, stating the payment “derived substantially the whole of its value from the activities of Mr. Grint” and was rightly classified as income. This led to the additional tax liability of £1.8 million being upheld.
Grint’s lawyers had appealed against HMRC’s decision in hearings held at the First-Tier Tribunal in London in late 2022. They maintained that the actor had already paid the appropriate tax. However, the tribunal rejected the argument, concluding that the payment was not a capital asset.
This isn’t Grint’s first brush with tax disputes. In 2019, he lost another case concerning a £1 million tax return.
Grint, 36, found global fame at the age of 12, debuting as Ron Weasley in Harry Potter and the Philosopher’s Stone. He went on to star in all eight films in the franchise, released between 2001 and 2011. Following the success of the series, Grint ventured into other projects, including films like Into the White and Knock at the Cabin. He has also taken roles in television and theater and currently stars in Apple TV+’s psychological thriller Servant, a role he has held for four years.
While Grint’s professional achievements continue to flourish, his ongoing tax battles highlight the complexities many high-profile actors face in managing their finances.
While Grint remains a celebrated actor with a thriving career, his ongoing tax challenges underscore the financial complexities many high-profile figures face in managing substantial earnings. The latest ruling serves as a reminder of the importance of clear tax compliance in high-stakes financial dealings.
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Business NewsNewsTrendsHarry Potter star Rupert Grint loses ₹18.34 crore in tax case: What’s his net worth?
First Published:2 Dec 2024, 12:58 PM IST
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