Rupert Grint, famed for his role as Ron Weasley in the “Harry Potter” films, attended the UK special screening of “Knock at the Cabin” in London on January 25, 2023. However, his recent spotlight extends beyond the silver screen to a courtroom drama involving a significant tax dispute. Grint, 36, is now facing a hefty 1.8 million-pound ($2.3 million) bill after losing a prolonged legal battle with the UK’s tax authority, H.M. Revenue and Customs (HMRC).
The dispute arose after HMRC challenged Grint’s classification of 4.5 million pounds in residuals from the Harry Potter films as a capital asset on his tax return from seven years ago. Residuals typically include earnings from DVD sales, TV syndication, and streaming rights. By classifying these residuals as a capital asset rather than income, Grint paid a lower tax rate than what HMRC argues was due.
Grint’s legal team appealed the initial ruling requiring him to pay the substantial amount, but this week, tribunal judge Harriet Morgan decided against him, stating the earnings should be taxed as income. Judge Morgan highlighted that the money “derived substantially the whole of its value from the activities of Mr. Grint.”
This is not Grint’s first battle with HMRC; in 2019, he lost a separate case concerning a 1 million-pound tax refund. Despite these legal setbacks, Grint’s career earnings, primarily from his decade in the Harry Potter series, are estimated at around 24 million pounds. As legal complications continue to unfold, Grint remains a prominent figure both in cinema and in public financial disputes.
Original Story https://www.cnbc.com/2024/12/01/harry-potter-star-rupert-grint-faces-2point3-million-tax-bill.html
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