Wednesday, December 09, 2009


Calculating UK Tax

With this as a table, the following function call can be made from Excel


To calculate the tax paid. TaxRates is the range above.

The code for this is as follows.

Function IncomeTax(income As Double, rates As Range) As Double
Dim i As Integer
Dim tax As Double
tax = 0
For i = 1 To rates.Rows.Count - 1
tax = tax + Application.Min(income, rates.Cells(i, 1)) * rates.Cells(i, 2)
income = Application.Max(0, income - rates.Cells(i, 1))
Next i
IncomeTax = tax + income * rates.Cells(rates.Rows.Count, 2)
End Function

Comments: Post a Comment

<< Home

This page is powered by Blogger. Isn't yours?

Subscribe to Posts [Atom]