I don't think JAR make any allowance for logging time as a safety pilot. However the FAA do.
Under the FARs the PF is entitled to log PIC, becasue they are manipulating the controls but under the hood, and the safety pilot is entitled to log PIC as they are required to look out and conduct the flight safely. The PF would also log SIT.
The exception to this would be if the PF was not instrument rated, the safety pilot was and the flight entered IMC. Now only the SP could log PIC [as the PF is not rated to be there]. Of course all the "qualified and current" stuff still applies.
Rgds
EA