I've just been to LGW for my initial JAA Class 1 and told the receptionist that I have an ICAO CPL (it's FAA). The CAA relieve you of £250 approx to do this, instead of approx £360.
However, there is a small loophole in that I never had to show my FAA Class 1, just my FAA airmans certificate. Infact I don't own an FAA Class 1 because to CFI you only need a Class 2.