or do they need both a SP type rating and a MP type rating?
See AMC2 FCL.725(a) paragraph (d).
If the latter, how are these revalidated? i.e. 2 different LPCs each year?
See paragraphs 13-15 and Part C of Appendix 9 to Part-FCL.
Now extend the same scenario out to including IR on that type. How does that work under EASA?
See Part B of Appendix 8 to Part-FCL.