In Britain, a lot of threaded pipe fittings used on models will be to Imperial standards, not metric. Otherwise, you are going to find yourself searching for fittings with most peculiar Metric pitches and 55 degree, rather than 60 degree thread forms.
You may not be able to source 3.175mm pipe, but there will be lots of 1/8".available.
BSP threads will always be larger than the pipe size.(1/8 BSP is 28 tpi, but the OD is 0.383" )
Imperial threads will usually be defined as tpi, rather than pitch.
If you look at Zeus Charts, this should, become clear.
HTH
Howard