Yes, just third party is mandatory, around £1,000 a year.
The CAA have reserved to themselves the issuing of permits for kit helicopters, I believe the PFA can issue permits for gyro's but could be wrong on that.
As illustrated with the Talon improvements, any mods have to go through CAA approval, so over time, in the UK at least, the Rotorway is becoming certified.
There was a fatal accident way back on G-ROTO during a permit renewal with an extremely experience pilot, I think the CAA have effectively 'Banned' new kit built heli types since and I feel they would do the same with the Rotorway if they could get away with it, which they probably couldn't, at least as long as accident rates don't rise.