Tier 2 visa while waiting for tier 1 application

Hi All

I have applied for a tier 1 ext application and still waiting for an outcome. Now if I apply for a tier 2 application I assume my Tier 1 Ext application will automatically be cancelled and I will switch to T2 application. What happens after I get my T2 visa earlier than the start date of my work? What is my work status from the day I receive my T2 visa until my work start date? Can I continue working as a director until my work start date?
Also, once my work start date approaches, do I quit as a director immediately or can I quit after a month? The reason for asking is because my invoices clear after 3 weeks so I want to be able to withdraw the money before closing the company.
Please advise.

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