Proppv

[Excelski]

Hi,

What does PROPPV mean at the end of a formula

Thanks

Kevin

[shg]

For example, ...?

[FDibbins]

I have never seen anything like that at the end of a formula?

[Excelski]

Here you go...

Thanks

[FDibbins]

aahh ok, that i a range name that was given to cell D2. It could have been called anything, but whoever put this together, decided to call it that

[alansidman]

That is a range name for Cell D2. The author assigned that name to the particular cell range.

[Excelski]

Thank you.

I have been using this sheet for sometime now and new bands of tax are being introduced soon, i am trying to amend it, without much luck.
While your answer answers my question i am still stuck!
Any ideas?

Thanks

Ps see revision a

[candybg]

Looks like it stands for Property Purchase Value

[Kymba]

Cell D2 (named PROPV) contains the value £600,000

Cell D3 contains a value of £20,000, derived from a formula that says times D2 by E3.

Cell E3 contains

=IF(D2>1500000,0.12*(D2-1500000)+93750,IF(D2>925000,0.1*(D2-925000)+36250,IF(D2>250000,0.05*(D2-250000)+2500,IF(D2>125000,0.02*(D2-125000),0))))/PROPPV

So it looks like E3 contains what you'll need to fiddle with to change your tax bands.

Personally, I'd look at linking that to your New bands from April section.

[Excelski]

Thanks,

This is above me, can anyone see where i am going wrong?

See rev b

Thanks
Kevin

[JeteMc]

It would seem that E10 only needs to report the correct percentage, if that is so then a formula that will work is:

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If D10 reports taxes based on a formulation of the first 125000 is taxed at 3% and the next 125000 is taxed at 5% etc. then a formula that will work in D10 is:

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Here is a copy of the file from post #10 that has the formulas applied: Copy of Example Rev b-1.xlsx
Let me know if you have any questions.

[Excelski]

JeteMc,

Thank you for your help,

Sorry i wasn't very clear before.

D10 returns the correct amount of stamp duty to be paid, But E10 appears to be giving the wrong %

on a purchase price of 1,234,560 the tax is 104,234 and the % should be 8.4%

[JeteMc]

See if this works. Paste this formula in D10:

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Paste this formula in E10:

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If the tax codes change frequently it might be a good idea to separate the ranges in B15:B19 with the beginning of each range being in column A, so that in the future you would only need to make changes to the ranges and not have to change the formula.
Let me know if you have any questions.

[Excelski]

Hi JeteMc,

Many thanks, works perfectly!

Kevin

[JeteMc]

You're Welcome, thank you for the feedback and for marking the thread solved. I hope that you have a good Sunday.