That would be an interesting CAA turn around for those with lapsed ATPL credit. However for fresh people coming through the system it would still be easier to go ATPL (13 exams) rather than CPL (9 exams) and IR theory (7 exams)
The current situation in LASORS 2006, Section G11
Credits from the ATPL(H) Theoretical Knowledge Examination
• Holders of an IR(H) may have the theoretical instruction hours reduced by 200 hours.
• An applicant who has previously passed either or both of the examinations in VFR and IFR communications will not be re-examined in the relevant sections.
• The holder of a valid JAR-FCL CPL(A) with valid ATPL(A) theory credit/ATPL (A)/IR will be required to complete the appropriate bridging examination requirements (see J1.9).
• The holder of a valid JAR-FCL CPL (H)/IR with JAR-FCL ATPL Theory credit will be credited the JAR-FCL ATPL (H) Theoretical knowledge examination for a period of 7 years from the last validity date of the IR (H) entered in the CPL (H).