If you require an FI, then you are P/UT. It doesn't matter if you are needing a check for club/syndicate rules or for licence purposes.
FI's don't "nick" hours, they are PIC and have the responsibility, so therefore should log the time. I only let PPL's log P1 time out of the goodness of my heart, not because the law says so and I have very specific criteria for allowing them to do so. Most don't reach it so very few are allowed to log P1 instead of me.
If you want to fly aircraft I'm responsible for, then you follow the rules I lay down in the flying order book. These supercede and are far harsher than the ANO, but if you sign it, then you are agreeing that you will abide by them.
If you don't sign it, then find another club......