I am a qualified chartered accountant currently based in Australia and looking to move to UK in April/May 2011.
My intention is to stay in the UK for up to 2 years however i'd be open to extending that stay should my circumstances change.
I have been advised that Tier 1 (General) will be abolished from April 2011.
Could anyone please advise if there are any major differences between Tier 1 and Tier 5 in terms of work restrictions etc. I understand that Tier 1 visas can be extended to cover a period of 5 years in total whereas Tier 5 is a once-off 2 year visa.
Tier 1 is significantly more expensive than Tier 5 and takes a lot longer to process.
If i do decide to go with Tier 5 (pending responses from this forum), what are my options should I wish to stay in the UK past the 2 year period? Is there any other class I can apply on based on my qualifications (Chartered Accountancy)?
Finally, in terms of employment both temp and permanent, do employers give preference to Tier 1 visa holders over Tier 5?
Thanks in advance for anyone assisting

Cheers!!