There is this FAQ on their website
that takes you to answers on Youtube. No one could argue that it isn't a 'radically altered vehicle' so 100% will need a Basic IVA and I can't see how they could avoid not getting a Q plate, if that bothered them.
Sorry mate, but THAT FAQ didn't give me anything I hadn't already found either!
I agree completely that this is a "radically altered vehicle" and i'm sure Nic and Richard will be equally convinced. And SHOULD know all about the technicalites of IVA. I'm sure that this is a long way from their first rodeo! I'm equally sure that they couldn't care a fig about having a Q plate on the car, or having to pay VED for evermore!
But having built a number of modified cars, I have a "special interest" in the rules and regs governing what you can and cannot do, including a more than passing familiarity with the IVA rules. Which is the main reason WHY I build all my cars to conform with the 8 point rule! IVA is largely a vast number of incomprehensible and un-necessary rules for pedestrian and passenger safety that were designed for use in kit car, special and low volume new car manufacture, where anything can be incorporated at the design stage, NOT the modification of an existing 40+ year old design which doesn't and couldn't meet modern safety standards. Look up "blackpopracing" on the retro rides forum for a exhaustive (and exhausting) saga on how to build a V8 Ford Pop within IVA rules, then look at Binky and try and work out how many bits might fail IVA, just on radius of curvature, sharp edges and bodyline protrusion alone, even before you get into the interior (the details of which are yet to be explained/determined) Things as simple as door handles, headlight bezels and the bonnet "mini" badge and bonnet chrome front edge moulding are all probably outside IVA parameters. And whilst these things can all be changed for something that DOES conform, it will take away the car's inherent "mini-ness" and character.
Maybe I should just go on and post a comment/question myself about it!