It's part of the overall EU dictats on such things that you can swap a UK license for one in any other EU country (and vice versa) without any re-testing.
However......
Since we adopted the EU-format photo-card licenses, there is also a new EU rule which comes into play which states that you may continue using your old license for as long as it is valid when moving to another EU country. So somebody who has just obtained a new UK license, for example, could move to France and not have to exchange for a French license for 10 years.
Some literature still states the need to exchange within a year, or 3 months, or whatever, so as usual with EU legislation there seems to be some confusion around.
Still, if you could "live" in France just long enough to get a French license, you could then use it to drive in the UK for as long as it remains valid (not sure if their licenses run 10 years or less).