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Stamp Duty Calculation
Hello, I have a SUMPRODUCT formula to calculate stamp duty in the UK below where F2 = the purchase price of a property. =SUMPRODUCT(--(F2>{0;250000;925000;1500000}),(F2-{0;250000;925000;1500...
=IF(F2<40000,0,SUMPRODUCT(--(F2>{0;250000;925000;1500000}),(F2-{0;250000;925000;1500000}),{0.03;0.05;0.05;0.02}))
Does this return the expected result?
=IF(F2<40000,0,SUMPRODUCT(--(F2>{0;250000;925000;1500000}),(F2-{0;250000;925000;1500000}),{0.03;0.05;0.05;0.02}))
Does this return the expected result?
If anyone comes across this thread more recently, rates have now changed...
=IF(B4<40000,0,SUMPRODUCT(--(B4>{0;250000;925000;1500000}),(B4-{0;250000;925000;1500000}),{0;0.05;0.1;0.12}))
The correct formula incorporating rates as of March 2024 is as follows;
=SUMPRODUCT(--(F8>{0;250000;925000;1500000}),(F8-{0;250000;925000;1500000}),({0;0.05;0.05;0.07}))
Note, the rates are incremental so for although its 10% SDLT from £925k to £1.5m, we have to use 5% increment over the previous tier.
Absolute legend thank you
- Very useful - thank you!
- You are welcome.
