dublinpilot
Can I remain PIC, and log it as simulated instrument time?
I don't have a reference but I am certain you cannot do this legally. Otherwise, an experienced instrument pilot could act as an instructor for the purposes of logging instrument time, and the powers to be will never allow that.
In reality, as bose-x explains this will of course be just fine.
You just cannot log it as instrument time, simulated or real. You have to pretend it never happened.
Many years ago this was possible; a PPL could teach a PPL. Then, those people were given a BCPL to formalise the situation. A BCPL, being like a CPL, then gave you IMC Rating privileges, so you could have become an IMCR instructor without having ever had instrument training. I'd imagine that the original crowd are getting old though.