Hi all! I've got a question which is really taxing me, one of those tax band questions. I've attached what I've got so far, but I don't see where abouts its going wrong. If I break the formula down in the 'tax to be paid' column, then it all seems to work correctly!
For instance, for the top example, using the equation: =VLOOKUP(B13,TaxTable,3)+((B13-(VLOOKUP(B13,TaxTable,1))*VLOOKUP(B13,TaxTable,2))) gives me the value £72,802.20
However, if I break down the formula:
=VLOOKUP(B13,TaxTable,3) gives £5300
=((B13-(VLOOKUP(B13,TaxTable,1)))) gives £43,502.20
=VLOOKUP(B13,TaxTable,2) gives 0.4
Then the seperate calculation:
5300 + (43,502.2*0.4) = £22,700.88
Which should be the correct answer. So what have I done with the top calculation that is making it not play ball?
Thanks!
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