There are many holes in the cheese where you can fly without asking anything to CTR / ATC, when flying your phantom.Correct me if I'm wrong but I think you are allowed to fly in controlled airspace without permission if your aircraft is less than 7kg in weight.
To quote the ANO:
The person in charge of a small unmanned aircraft which has a mass of more than 7 kg excluding its fuel but including any articles installed in or attached to the aircraft at the commencement of its flight, must not fly such an aircraft:
a) in Class A, C, D or E airspace unless the permission of the appropriate air traffic control unit has been obtained;
I do agree, though - flying anywhere in London is pretty much a no-go.
You're not concerned by A class as it starts much higher than your 400ft limit.
However you may be quite often in a class D airspace. Some but not all part of London is Class D from the ground to 2500ft. That doesn't mean no fly zone, but notifying ATS if you are going to enter an airfield/airport in the zone.
If you fly a >7Kg, you must notify that you are flying in the class D (even if you are not in the vicinity of the airport.)
Since you asked, what you need to know is quoted below:
From CAA IN2014/190:
"Under ANO 2009 Article 166, operators of SUA weighing 7 kg or less are not required to gain an NSF approval from Air Traffic Control (ATC) to operate within Class A, C, D or E airspace or within an active ATZ. However ANO Article 166 states that a person in charge of a SUA ‘may only fly the aircraft if reasonably satisfied that the flight can safely be made’ and that they ‘must maintain direct, unaided visual contact with the aircraft … for the purpose of avoiding collisions’. In practical terms, SUA of any weight could present a particular hazard when operating near an aerodrome or other landing site due to the presence of manned aircraft taking off and landing. Therefore, it is strongly recommended that contact with the relevant Air Traffic Services (ATS) unit is made prior to conducting such a flight. As in paragraph 5.1.6, advice and information may be provided on the local air situation that will help the operator satisfy themselves that the flight can safely be made. Such information provided by the ATS unit does not constitute or infer an approval to operate in the airspace and does not absolve the operator from the responsibility for avoiding all other aircraft. Contact details for aerodromes and ATS units can be found in the AD2 and AD3 sections of the UK AIP."
So: you need a proper chart of the zone you want to fly in, I recommend to install Skydemon light on your pc, that gives you all the details including Notam in real time.
from there you will know what to do. Check Google earth for your location for a risk assessment. Make sure first that you have permission from the land owner to take off.
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