[SOLVED] IF a value is greater than X, do this calculation - but how?

I'm trying to write a worksheet that produces an estimate of conveyancing costs for a client where the fees and third-party charges are in part based on the purchase price of a property.

As part of it, I want to include a cell showing the Land Tax applicable to the transaction, which will calculate the same based on the Land Tax thresholds, which are:

Rate: Purchase price:
Zero - Up to £125,000
1% - Over £125,000 to £250,000
3% - Over £250,000 to £500,000
4% - Over £500,000 to £1 million
5% - Over £1 million to £2 million

I have been able to do 'IF' functions to insert straight figures in respect of other costs which are based on the purchase price, but how do I get Excel to perform a calculation within 'IF' (maybe I don't use 'IF'?)

This is the best I can come up with. I know it's wrong:

(G16 is the purchase price)

=IF(G16>500001,"=g16*4%",IF(G16>250001,"=g16*3%", IF(G16>125000,"=g16*1%",IF(G16<125000"=g16*0%","£0.00"))))

All that happens (and I can see why) is the text, e.g. "=g16*4%" appears in the cell. I know there must be a way, and I apologise if this is a really stupid question.

Any help you can offer would be greatly appreciated.

The " in your formula indicates text not numbers

Try this:

=IF(G16>1000000,G16*0.05,IF(G16>500000,G16*0.04,IF(G16>250000,G16*0.03,IF(G16>125000,G16*0.01,0))))

Hi and welcome to the forum.

You don't need "" foe numbers. Only for text.

Try

=IF(G16>500001,=g16*4%,IF(G16>250001,=g16*3%, IF(G16>125000,g16*1%,IF(G16<125000,g16,0))))