formula for a percentage up to an amount

[alastair77]

hi - hope you can help . It will be really appreciated.


If you suggest something i can look at doing it myself ?

I am looking for a formula to work out the 20% of the first amount £2649 then work our 40% of the next amount up to £9850.99

I detailed what i am doing below:



if i enter in any amount, i am trying to calculate the emergency tax. here i enter in 18750 and the tax should be 6885.20.

emergency tax gets the personal allowance then the rest gets taxed at 20% then the rest up to 9850.99 gets taxed up to 40% then the remainder at 45%

Gross amount <tbody> </tbody>	18750 <tbody> </tbody>
Personal allowance (month) deduct <tbody> </tbody>	883.34 <tbody> </tbody>
rest to be taxed at 20% : up to £2649 <tbody> </tbody>	(formua should equal to 529) <tbody> </tbody>
rest to be taxed at 40 % : up to £9850.99 <tbody> </tbody>	(formula should equal to 3940.40) <tbody> </tbody>
to be taxed at 45% : excess / remaining <tbody> </tbody>	(formula should equal to 2415) <tbody> </tbody>

<tbody>
</tbody>

 

[Michael M]

Answered here...
http://www.mrexcel.com/forum/excel-questions/856662-formula-calculate-emergency-tax-2015-16-a.html

Please don't duplicate post !!

 

[alastair77]

oops sorry - can i delete this post?

 

[Michael M]

No, it's OK.....Posters will see where the other post is by my previous message..