Now you've got me as my references for the outgoing regs show it as being withdrawn and refer to the incoming regs?
CAP722 Ed8 puts a number of 500m on the CAA's expected maximum distance which VLOS can be maintained, which is nearly (but not explicitly) a legal maximum. I read it to mean they'd not challenge you if you keep within 500m horizontal distance and beyond that they could reasonably ask for it to be demonstrated that you could maintain VLOS. I'm pretty sure CAP722 Ed7 had similar wording.
For UK Read Rivision history thus:
CAP 722(P) Eighth Edition November 2020
This revision implements the new UAS Regulatory Package, which becomes applicable in
its entirety in the UK from 31 December 2020. The document has been completely
restructured in order to accommodate the necessary changes and present them in a
clearer and more comprehensible manner.
Note when the word "MUST" is used it indicates a mandatory requirement refer page 17 - Hence operating within VLOS the remote pilot must be able to clearly see the unmanned aircraft
Read page 36 of 8th Edition - Section 2.1.1 VLOS
2.1.1 Visual line of sight operations (VLOS)
Operating within Visual Line of Sight (VLOS) means that the remote pilot must be able to
clearly see the unmanned aircraft and the surrounding airspace at all times while it is
airborne. The key requirement of any flight is to avoid collisions and a VLOS operation
ensures that the remote pilot is able to monitor the aircraft’s flight path and so manoeuvre
it clear of anything that it might collide with. While corrective lenses may be used, the
use of binoculars, telescopes, or any other forms of image enhancing devices are not
permitted. Putting things in very simple terms, when operating VLOS, the aircraft must
not be flown out of sight of the remote pilot’s eyes.
The CAA will normally accept that the VLOS requirement is met when the UA is flown out
to a distance of 500 metres horizontally from the remote pilot, but only if the aircraft can
still be seen at this distance.
The ‘operating height’ is limited to a maximum distance of 400 feet (120 metres) from the
closest point of the earth’s surface (see para 2.1.1.1 below). Operations at a greater
distance from the remote pilot may be permitted if an acceptable safety case is
submitted. For example, if the aircraft is large it may be justifiable that its flight path can
be monitored visually at a greater distance than 500 metres. Conversely, for some small
aircraft, operations out to a distance of 500 metres may mean it is not possible to assure
or maintain adequate visual contact, and so the aircraft must obviously be kept closer to
the remote pilot.
So I interpret the above as the UA must always be seen by the remote pilot, note the comments for some small aircraft - I would include Mavic Mini as small