A relative of my wife works for the LTO and having checked, holders of British - and other licences issued in English - do not require IDPs in order to drive here regardless of whether the vehicle is owned by a rental company or not. A British drivers licence may be used for up to 90 days commencing on date of entry to the country and if you wish to continue driving after that 'grace period' you need to obtain a Philippine licence from the LTO.