Hi there! Yes 'hone in on' can be used in British English, meaning to move towards, or to focus on, a goal or target. 'I think we are honing in on the solution.'

Thanks, Peachey! It's pretty interesting.

This might be of interest to your question (in short: "hone in" is accepted but "home in" is the original expression): http://grammarist.com/eggcorns/home-in-hone-in/