Planning for my families ILR application

Hi All - I'd just like to check my plan for applying for ILR is correct.

I am on a Tier 1 Entrepreneur visa and will be able to apply for ILR in Jan-2019 on the 5 year 200k route.

I have 3 dependants (wife, 5yo and 1yo).
All our current visas expire in Aug-2019.
The 1yo was born in the UK.
All are Australian citizens.

What forms do I use to apply for ILR:
Is it SET(O) for myself and wife?
Then SET(F) for 5yo?

Also it saves me £2389 if I do not have to apply for ILR for the 1yo who was born in UK.

I am hoping that as I have 7 months between my ILR application and expiry of the existing visas I can avoid paying for ILR for the 1yo and hopefully once I receive my ILR just register her as a British citizen using MN1.

I assume that if the ILR has not been granted for us by early Aug-2019 I can send in an ILR application for the 1yo. That is my fallback plan if our ILR is slow to be approved.

Does my plan sound correct?

Also is it correct that as I am on T1 Entrepreneur visa there is no opportunity to accelerate our ILR application using either the Premium Postal Service or a Premium Service Centre.

Thanks in advance

Hi Everyone - is anybody able to give me a quick reply on these questions?
I'd really appreciate any input

Grreg

What forms do I use to apply for ILR:
Is it SET(O) for myself and wife?

Yes.

Then SET(F) for 5yo?

Why are you applying for ILR for your UK born child? Child can be registered as British once you get ILR and DOES NOT need ILR. If you want to apply for ILR, include him on your Set(O) form with your wife.

I am hoping that as I have 7 months between my ILR application and expiry of the existing visas I can avoid paying for ILR for the 1yo and hopefully once I receive my ILR just register her as a British citizen using MN1.

Correct, he doesn't need ILR.

I assume that if the ILR has not been granted for us by early Aug-2019 I can send in an ILR application for the 1yo. That is my fallback plan if our ILR is slow to be approved.

He doesn't need ILR and doesn't need a valid visa to apply for citizenship either. He has an entitlement to register as British.

Also is it correct that as I am on T1 Entrepreneur visa there is no opportunity to accelerate our ILR application using either the Premium Postal Service or a Premium Service Centre.

Correct, postal only.

Thanks CR001 - that is very helpful.

To clarify - I have 2 children. 1 was born in the UK and the other in Australia.

I will include the Australian born child on form SET(o).

The child born in the UK does have a PBS dependant BRP card which expires in Aug-2019

I will submit the ILR application for the first 3 family members in Jan-2019, so there is 7 months before the UK born child's leave expires.

If we have not had an approval from the HO as we approach Aug-19 should I apply for her to extend her Tier 1 dependant visa or add her to the families ILR application?

If we have not had an approval from the HO as we approach Aug-19 should I apply for her to extend her Tier 1 dependant visa or add her to the families ILR application?

No, not necessary. Simply apply for citizenship once you get ILR.