Harvey Millington, 14, of Staplegrove, earns £2 million in barely 18 months

The 14-year-old's money making skills at such a tender age have made him the envy of his classmates at Taunton Academy, but he has promised to remain firmly grounded.

Harvey, of Staplegrove, made his first venture into the world of business after the Government scrapped vehicle tax discs.

He came up with the idea of creating reminders that looked similar to the old discs so that motorists would not forget to renew their vehicle tax or MOT and his dad gave him the cash to get the initiative off the ground.

They sold at £4 a pop and before long he had made a hefty £100,000 profit.

The mini entrepreneur's next deal saw him buy three acres of land near his home for £40,000, intending to turn it into an upmarket glamping site.

But before he could set up the project, a developer knocked on his door and offered him a whopping £2 million for the land, which is surrounded by fields the developer had brought with the intention of building homes there.

Harvey, who is unlikely to see any of his jackpot for at least a year, said: " I wasn't sure how much they were going to offer for the land, but they came up with £2 million.

"It was too good to turn down. It's a massive amount, especially for someone at my age."

Despite his business acumen, Harvey wants to become a police officer when he leaves school and has already joined the police cadets.

His dad Howard, 46, who runs a number of businesses, including go karts, fencing and garden machinery, no longer has to worry about giving his son pocket money.

Mr Millington said: "If he started getting too big for his boots I would make sure he winds his neck in.

"But to be honest that won't happen.

"I've taught him you have to work hard to get on in life.

"He's a grounded lad and is just a great businessman."