SOLVED

# Stamp Duty Calculation

Copper Contributor

# 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;1500000}), {0.03;0.05;0.05;0.02})

I want to edit this formula so that if F2 is less than 40000 then the stamp duty = £0 regardless of the above formula.

Can anyone assist me please?

Thanks,

Pat

6 Replies
best response confirmed by Pat_Burrows1970 (Copper Contributor)
Solution

# Re: 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?

# Re: Stamp Duty Calculation

Thank you it worked.

You are a star!

You are welcome.

# Re: Stamp Duty Calculation

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}))`

# Re: Stamp Duty Calculation

Very useful - thank you!

# Re: Stamp Duty Calculation

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.

1 best response

Accepted Solutions
best response confirmed by Pat_Burrows1970 (Copper Contributor)
Solution

# Re: 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?