Having done this a few times and using a very friendly, but extremely thorough CAA Ops inspector for the tests, then as long as you are the sole owner, then away you go.
My understanding is exactly as Genghis'.On each occasion I've asked the nice man from the CAA and there has never been an issue, though I do have a chat before starting anything just in case.
It's mental that there should be any issue, but there you are. Welcome to GA flying in the UK.