I too am training in Canada for a CPL/IR with the intention of returning to England to "convert", or I was until a few weeks ago! Then the JAA decided to change the rules without warning. I had done about 10-15 hours of the Canadian IR course, when I heard that there is no way to "convert" my Canadian IR to a JAA IR. SO I have halted my IR training until I return to the UK, as there is no point in doing it here in Canada.
I spoke to the CAA over the phone and they confirmed that as from Feb 1st, holders of ICAO Instrument ratings must complete the FULL JAA IR course(55 hours - 5 hour reduction if you have a CPL) if they wish to obtain a JAA licence. There is no reduction in training time unless you have a few hundred hours (500?) of multi-crew time.
As I said before, I have halted my IR training and am just doing some hour building on a twin instead.
I just hope they don't change the rules for the CPL module as well. If you read some of the other posts in this forum, I think that this will confirm my point.
Hope everything goes well, I will be joining you in the bank asking for a huge loan to cover the extra costs!!!!!!!