My client bought their first home in the UK in 2000 and lived there until 2012, at which point their employer seconded them to an overseas office. While overseas, they lived in rented accommodation and let out the UK property. They returned to the UK in 2023 and moved into a newly purchased property.

The intention is to sell the original property to the current tenants, am I correct that my client will not suffer any capital gains tax (CGT) due to a combination of principal private residence (PPR) relief and lettings relief?