Thank you for the advice.
After speaking to a lawyer, I understand that even if I were to submit a fresh application there are two catches:
1. (As already mentioned) I cannot claim to be switching from a PSW as that visa is no longer valid
2. As my PSW visa is now expired, I do not have a legal right to work in the country while the new application is being processed.
The only option left is to appeal.
Noting two cases from the summer of last year Owolabi and R (Alvi)
http://www.ergensharif.co.uk/Tier2caselaw.aspx the Court overturned the refusal of their visas as the Codes of Practice had no legal bearing (Pankina 2010).
I need to look into this more, but I wonder if that is still the case.
Also, seeing as I fell short of the minimum hourly rate by 0.78 p which roughly equates to £1600 per annum, I'm hoping the court will factor in the proportion of the discrepancy.
My employer has agreed to increase my annual salary to meet the minimum hourly rate, but given the recent legislation which prohibits the introduction of new evidence, I am not sure if this will actually be of help to my case at this stage.
I need to instruct a lawyer as soon as possible to help me build a strong case of appeal. I would really appreciate any recommendations.