kylie minogue
Kylie's record producer - not so lucky

Court takes Stock of battle over tax fees

Kylie Minogue's millionaire record producer in legal battle with former accountant Guy Rippon over accountancy fees

Written by Barbara Buchanan

Millionaire record producer Mike Stock, who produced Kylie Minogue’s ‘I should be so lucky’, is facing a legal battle in a long-running dispute over accountancy fees.

Simmons Gainsford has accused Stock - one of the hit factory trio Stock, Aitken and Waterman - of failing to pay a £69,473 expert witness bill for five years.

The case involves a long-running dispute in which Stock lost a court case in 2003 with his former accountant Guy Rippon.

Stock had accused Rippon of negligence and of depriving him of the chance of a better settlement with the Inland Revenue, while Rippon sued Stock for unpaid fees.

However, the judge doubted whether Rippon had been negligent. As a result, a settlement was reached before any evidence was called, although Stock was left paying total costs of £515,500.

As part of that case, Stock instructed Simmons Gainsford’s senior tax partner, Steven Strauss, to act as his expert witness on complex tax issues.

Strauss was never called to give evidence at the trial, which ended on the second day, and Simmons Gainsford invoiced Stock a total of £69,473 for his services, according to a High Court writ.

Although the bill should have been paid by 2003, it is claimed that the money remains outstanding. Now Simmons Gainsford is suing Stock for the bill, as well as £24,200 interest and continuing interest of £15 a day. The claim is also against Stock’s companies, Mike Stock Productions, Modal Production Group, Mike Stock Publishing, Love This Songs, Stock & Aitken Productions, and Mike and Frances Stock as trustees of his retirement scheme.

Mike Stock was contacted for comment but was unavailable at the time of going to press.

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