Court takes Stock of battle over tax fees

kylie minogue

Kylie’s record producer – not so lucky

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

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

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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