Assuming that A1 contains the value of the item sold, try...

=SUMPRODUCT(--(A1{0,29.99}),A1-{0,29.99},{0.0525,-0.02})

Hope this helps!

In article . com,
"ouch" wrote:

First let me say Hello as this is my first time here :)

I am trying to make a column that as a varied percent discount. By this
I mean I want to make it so it deducts 5.25% from items sold with a
value of £0.01 - £29.99 But if the item sold is higher than £29.99
then it needs to Deduct 5.25% for the first £29.99 then to deduct
3.25% for the rest. Hope this makes sense.
Thanks in advance Steve