I recently completed my SE IR in Denmark. The school was great. 206-L in IMC almost every flight down to legal training minima (October/November weather). It was issued without question by counter service at Gatwick whilst also renewing to an EASA licence. It's not usable in a commercial sense in the UK, however is relatively easily converted to ME IR as previously stated. I think that if the UK CAA don't find a way to allow training organisations in the UK to start offering these courses we will see more business lost abroad. For the curious, in Denmark you can't fly commercial air transport IFR in any single engine helicopter, but you can fly IFR in Denmark in Danish registered aircraft, for non-commercial purposes under their document BL 5-60 "Regulations on IFR flights with aeroplanes not operated in accordance with commercial air transport rules" (english translation found online also).