I am trying to work income tax out on a spreadsheet so we can work out tax on payroll and dividends
I am struggling with a formula that if the taxable income on payroll (cell H8)is higher than 37500(cell L6) x (cell L8) 40% if not enter nil
Replies (8)
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This should work:
=if(H8>(L6*L8), 40%, 0%)
Let me know if it doesn't, I'll be more than happy to help.
It would help, when designing formulae in a spreadsheet, if you were a bit more precise as to what you wanted to achieve.
For instance:
* TheNovice's solution does exactly what you asked IF you wanted the result to show either 40% or 0% (as appropriate) ... because, say, you intend to multiply another value elsewhere (such as the result of (H8-L6) by the correct %age.
* Paul's solution goes a step further (by giving the result of multiplying (H8-L6) by the correct %age) ... which may be what you wanted, but means you don't hold intermediate values if you need them elsewhere in the spreadsheet.
Hope that helps ... meant as helpful explanation, not criticism.