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On a server set to a non-UTC time zone, the #time function gives odd results.

Server set to PST (UTC -8):
{{#time: j F Y H:i | 2008-12-24 12:01:29    }} is rendered as "24 December 2008 20:01"
{{#time: j F Y H:i | 2008-12-24 12:01:29+00 }} is rendered as "24 December 2008 12:01"
{{#time: j F Y H:i | 2008-12-24 12:01:29+01 }} is rendered as "24 December 2008 11:01"

The result is always rendered in UTC, regardless of what the input or server time is set to. And if no time zone is set, the time zone php is set to is used (I think this is the fault of PHP's strtotime function).

This gives a highly confusing situation where rendering a time gives a different time. This could also cause some very subtle errors (eg: a wiki set to London time would be wrong half the year only).

My workaround was to set
  date_default_timezone_set("UTC");
in LocalSettings.php.