My apologies. If the British schoolboard now defines the division symbol as having higher precedence than the multiplication symbol then that's about as close as we'll get to it being the case that there is an accepted method in the UK as ubersonic says.
I could be wrong but it was my understanding that they define division and multiplication as having equal precedence, IIRC the rule is to do them left to right (I think this applies to addition vs subtraction too).