Spittingimage,
I think I cunningly spotted your mistake. What on Earth possessed you to re-register the aircraft as G???
The only reason why anyone should want to do that as far as I know is if you are operating the a/c for hire or reward in the UK - and if you are, you are a commercial operator and all sorts of other considerations need to be taken into account.
If you are a PRIVATE flyer and buy an N-reg and keep it as N-reg, you not only benefit from the considerably lower purchase cost and choice, but have other benefits thrown in (e.g. more relaxed maintenance requirements). Plus you can fly on an FAA IR in Europe (again, much cheaper/easier to get)!
The only dragon is the VAT.
