Taking Stock: Harry Potter and the curse of the £1m VAT refund

IN the fantasy world of the Harry Potter series, there were a range of spells used to get the main characters out of tricky situations, many of which were used by Harry’s flame-haired sidekick Ron Weasley.

And now it seems that Rupert Grint, the actor who played Weasley, has consulted his own spell book to try and get himself out of a difficult situation with HMRC.

The 27 year-old actor, who is said to have earned £24m for his role in the successful film series, is in court seeking a £1m VAT refund from HMRC after the government department blocked his accountant’s attempts to shield his earnings from the 50p tax rate.

The actor is arguing that he should be in line for the mega refund after the taxman prevented him from employing an accounting period shorter than 12 months, from 31 July 2009 to 5 April 2010, just weeks before the new tax came into place.

During the ongoing tax tribunal, Grint testified that his knowledge over his financial affairs is quite limited, leaving all his tax returns to his accountant and father.

TS assumes that Grint never attended his accountancy class at Hogwarts, which was between Herbology and Potions.

The case is expected to end later this week.

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