SOLVED

Stamp Duty Calculation

New Contributor

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

 

3 Replies
best response confirmed by Pat_Burrows1970 (New Contributor)
Solution

@Pat_Burrows1970 

=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?

@Quadruple_Pawn 

 

Thank you it worked.

 

You are a star!

You are welcome.