The fact is its far easier to *own* an N reg, and fly it as a means of transport. US PPLs tend to be *better rated* in that I mean that a far higher percentage of them hold an IR than a UK PPL. This is thorugh no fault of the UK pilot, but the stupid ridiculous level of the JAA IR for the PPL. You *don't need* to be at such a level to fly IFR in a SEP aircraft, you don't need to know about 737 FMS's to operate your Arrow in airways. Interestingly, although some JAR tolerances are higher than FAA tolerances, its all irrelevant after the test. If you use your IR you get better, if you don't, you loose your skills anyway....ok enough of that
Who's to know if it's actually registered apart from the FAA
Me, I can go onto the web and check a tail number. No doubt the CAA can too.
I have heard suggestions that getting on for 10% of privately operated aircraft based in the UK are on foreign registers, mainly the US, Bermuda and Cayman
Funny that, isn't Bermuda governed by the ANO (Overseas Territories)?
Anyway, no doubt if the powers that be decide this is the best course of action, then some loophole will open up, like getting your aircraft serviced in the Channel Islands or Luxemburg or somewhere....
EA