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  1. #1

    excel formula for new stamp duty

    Morning folks,

    Could anyone be kind enough to provide me with a formula to calculate the new stamp duty figures for second homes?

    My knowledge of excel stops at way before '=SUMPRODUCTS.....'

    Coiuld you assume the purchase price is A1

    Many thanks in advance.

    David

  2. #2
    Hey David

    Just take the existing stamp duty calculation and add 0.03*PRICE, like the following:

    =SUMPRODUCT(--(A1>{125000;250000;925000;1500000}),(A1-{125000;250000;925000;1500000}),{0.02;0.03;0.05;0.02})+(A1*0.03)

    Hope that helps!

  3. #3
    Thats great, Ashley - many thanks

    Makes things a lot easier!

  4. #4
    Hi,

    Just thought I would share an equation for anyone that uses numbers, the free Apple equivalent of Excel. Took me a while to find one that worked.

    = IF(A1>925000, 64000+(A1−925000)13%, IF(A1>250000, 10000+(A1−250000)8%, IF(A1>125000, 3750+(A1−125000)5%, IF(A1>0, (A1)3%))))

  5. #5
    Hi Ashley,
    Many thanks for this. That's a great help!

 

 

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