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#1
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Formula needed help from a genius!!!
I need a formula for calculating the tax on a profit amount based on the
following scales so I can quickly calculate tax payable to accrue in my accounts 0-25k 5.3% 25-200k 15.3% 200-400K 22.4% 400-1M 28.8% 1M-5M 33.8% eg if profit was 200k then 1st 25K @5.3 and then 175K @15.3% Would appreciate anyone who is able to give me some help on this |
#2
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Formula needed help from a genius!!!
See this:
http://mcgimpsey.com/excel/variablerate.html -- Biff Microsoft Excel MVP "SueG123" wrote in message ... I need a formula for calculating the tax on a profit amount based on the following scales so I can quickly calculate tax payable to accrue in my accounts 0-25k 5.3% 25-200k 15.3% 200-400K 22.4% 400-1M 28.8% 1M-5M 33.8% eg if profit was 200k then 1st 25K @5.3 and then 175K @15.3% Would appreciate anyone who is able to give me some help on this |
#3
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Formula needed help from a genius!!!
Hi Sue,
I'd be inclined to approach the problem this way: First, construct a 3-column table as shown- Threshhold Base Rate 0 0 5.30% 25000 1325 15.30% 200000 28100 22.40% 400000 72900 18.80% 1000000 245700 33.80% 5000000 1597700 33.80% Then name rows 2-7 in columns A-C as 'Threshhold','Base' & 'Rate', respectively. Assuming your table occupies A1:C7, including the headings, the 'Base' values for rows 2 - 6 are calculated by the formula '=(A3-A2)*C2+B2' in B3 and copied down to B7. Now, suppose your value is in A9. A formula you could use to calculate the tax is- =ROUND(LOOKUP(A9,Threshhold:Base)+(A9-LOOKUP(A9,Threshhold))*LOOKUP(A9,Threshhold:Rate), 2) -- Cheers macropod [MVP - Microsoft Word] "SueG123" wrote in message ... I need a formula for calculating the tax on a profit amount based on the following scales so I can quickly calculate tax payable to accrue in my accounts 0-25k 5.3% 25-200k 15.3% 200-400K 22.4% 400-1M 28.8% 1M-5M 33.8% eg if profit was 200k then 1st 25K @5.3 and then 175K @15.3% Would appreciate anyone who is able to give me some help on this |
#4
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Formula needed help from a genius!!!
Thank you very much - your help so quickly is really appreciated
"T. Valko" wrote: See this: http://mcgimpsey.com/excel/variablerate.html -- Biff Microsoft Excel MVP "SueG123" wrote in message ... I need a formula for calculating the tax on a profit amount based on the following scales so I can quickly calculate tax payable to accrue in my accounts 0-25k 5.3% 25-200k 15.3% 200-400K 22.4% 400-1M 28.8% 1M-5M 33.8% eg if profit was 200k then 1st 25K @5.3 and then 175K @15.3% Would appreciate anyone who is able to give me some help on this |
#5
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Formula needed help from a genius!!!
Great!
Thanks very much - you guys rock ! "T. Valko" wrote: See this: http://mcgimpsey.com/excel/variablerate.html -- Biff Microsoft Excel MVP "SueG123" wrote in message ... I need a formula for calculating the tax on a profit amount based on the following scales so I can quickly calculate tax payable to accrue in my accounts 0-25k 5.3% 25-200k 15.3% 200-400K 22.4% 400-1M 28.8% 1M-5M 33.8% eg if profit was 200k then 1st 25K @5.3 and then 175K @15.3% Would appreciate anyone who is able to give me some help on this |
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