I'm a little confused about calculating the gain, on the Which website it states an example:
If you own a property years (240 months), live in it as your main residence first 12 years (144 months), use it as a second home next four (48 months), then rent it out final 4 (48 months), you can claim both private residence relief (PRR) and letting relief on the gain you make when you come to sell.
Assume the profit you make on the sale is £100,000. The amount of PRR you can claim is 144 months plus 18 months final period of ownership. This is a total of 162 months, out of the 240 months total- 0.675%, which means that £67,500 of the £100,000 gain (£100,000 x 67.5%) is tax-free.
So in my example, would it be 66 / 72 = 91% so 91% of the gain would be taxed at 28%, not 66% of the gain?