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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?
Thank you. Any chance Residential after April 2025?
This should work according the rate after April 2025
=IF(A1<=125000, 0,
IF(A1<=250000, (A1-125000)*0.02,
IF(A1<=925000, (125000*0.02) + (A1-250000)*0.05,
IF(A1<=1500000, (125000*0.02) + (675000*0.05) + (A1-925000)*0.10,
(125000*0.02) + (675000*0.05) + (575000*0.10) + (A1-1500000)*0.12))))