PA Images/Sipa USAHarry Potter's Rupert Grint (aka Ron Weasley) has lost a big chunk of change following a dispute over his taxes.
E! News has learned A tax tribunal judge ordered the 27-year-old actor to pay $1.3 million (£1 million) after rejecting his appeal against an HM Revenue and Customs (HMRC) block regarding a change in his accounting dates to shield his earnings—a total of $31.2 million (£24 million) from the Harry Potter franchise—from a high tax rate.
The judge said Grint followed advice from tax advisers Clay & Associates to change his accounting date so that 20 months of income would be taxed in 2009-2010. This prevented 8 months worth of income from being taxed in the 2010-2011 year, during which the top rate of tax rose from 40% to 50%.
Thus, the judge said the date change would result in 10% saving on his income income or $1.3 million, according to Grint's accountants.
During his hearing for the appeal, Grint admitted that his knowledge of his financial affairs was "quite limited" as he left his tax returns to his father, Nigel, and his accountant, Dan Clay.
The judge said in her ruling that he had made it clear "he placed his faith in his father and accountants to deal with his financial affairs."