Forum Discussion
Stamp Duty Calculation
=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
This is the formula for Investment property up to April 2025, I put property purchase price in B3.
=IF(B3<=250000, B3*0.05,
IF(B3<=925000, 250000*0.05 + (B3-250000)*0.10,
IF(B3<=1500000, 250000*0.05 + (925000-250000)*0.10 + (B3-925000)*0.15,
250000*0.05 + (925000-250000)*0.10 + (1500000-925000)*0.15 + (B3-1500000)*0.17)))Thank you. Any chance Residential after April 2025?
This will do it (presuming your property price is in cell B1), and is more efficient than multiple nested IFs:
=IF(B1<=125000,0,MIN(125000,B1-125000)*2%+MAX(MIN(B1-250000,675000),0)*5%+MAX(MIN(B1-925000,575000),0)*10%+MAX(B1-1500000,0)*12%)
