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@TeeTee
The taper is likely to be JIS. If the bearing surfaces inside the cups aren't pitted, I'd spend a couple of quid on some new ballbearings from the bike shop and reuse them rather than getting the shell recut.
But, turning the axle around probably isn't the best idea. You can try it, but the left pedal would be a few mm further out than it should be, and it might not give you a decent chainline anyway. You'd probably be better off getting a new axle, but it can be trial and error finding the right one. If you can find a helpful LBS they might be able to let you try some.
Shorter axles are available on Ebay: http://cgi.ebay.co.uk/Bike-bottom-bracket-cycle-crank-axle-various-lengths-/170469934421?pt=UK_sportsleisure_cycling_bikeparts_SR&var=&hash=item6d6e503430