I was under the impression if you did a JAA PPL or ATPL in the states you didn't need to do anything over here, as its a European licence, and the school I am looking at has ties with Cabair in the UK, correct me if I am wrong though.
You can do the JAA ATPL in the States.
You can sit the ATPL exams in the states too (distance learning or classroom) but there is more to the ATPL than a PPL and 14 exams. I am sure you're aware you'll need the CPL and IR too, meaning if you WILL have to come back to do the JAA IR.
I think you might get a discount if you train PPL > CPL at OFT and then convert you FAA IR at Cabair though.
An FAA licence would mean I could only fly in the US right? however if the fligh school I attend in Florida offers me a JAA licence that is ok for the UK isn't it?
Yes, but as above you wont get a JAA IR in the states.