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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?
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?