It is. Converting to a UK ATPL from an Oz ATPL was a pain in the arse compared to going the other way. 15 exams - and that's with a credit against Morse Code due to holding a foreign IR. Exams only available during preset exam periods. Two flight tests (initial issue of a professional licence + initial issue IR) and both have to be with the CAA with their exorbitant fees. It was something like 600 quid for each test when I did it 10 years ago - and that doesn't include the aircraft cost nor the instructor recommendation/class rating beforehand.
And how about the Initial issue Class 1 medical? What a WOFTAM. Expensive & must be done at the Belgrano. At least I managed to find a way to avoid most of it by getting the bulk of the investigations done in Oz and then bringing the reports & transcripts to the UK.