I had a 2nd property which I purchased in June 2012 and sold in Feb 2017, with a gain of £70k
I lived in the property from June 2012 to July 2014 and again from Nov 2015 to Feb 2017.
It was rented for 15 months out of the total 56 months owned
Can I claim for both PRR and lettings relief?
My calcs are as follows: Lived in property for first 25 months + final 18 given = 43 months. Relief therefore is £70k / 56 months x 43 = £53,750. £70k less £53,750 = gain of £16,250
Letting relief is £70k / 56 months x 15 = £18,750, therefore no tax is due on disposal
Does this seem correct, bearing in mind I own another property?