You can't just throw the word 'logic' around!
Reading Part-FCL or even CAP804 it's not particularly obvious either way if the PIC time is included in the credited time. It's only when you do the maths that it doesn't really make sense. Nevertheless there are still contrary opinions on the matter from different sources, and so ultimately I suppose I will have to wait another month for the CAA to unravel their 'complex' problem. It astounds me that the website hasn't been changed to reflect the facts, if this has indeed already been determined.