Andrea...I haven't found out about the issue of extensions yet...i haven't actually got round to reading the new guidance yet, still writing my notes and clearing up other messes caused by the Home Office. I will get back to you when I have got that confirmed, although if anyone else finds out in the meantime, please post it.
They do have "transitional" arrangements in place whereby many existing (non-self employed) HSMP holders who don't meet the points test can apply for a work permit without having to have their job advertised, which isn't as bad as I feared. And there is a special arrangement for self-employed people, which is heartening, but not every self-employed person on HSMP will qualify for that, unfortunately.
But even the work permit arrangement will still leave some people out in the cold- namely, those who either took a while to find a job or those who changed jobs shortly before they're up for extension, since it's a requirement to have to have 8-12 months in the same post before being eligible for a work permit under the transitional rules. (And if you're going to do that, why not make it 8-12 months of employment total? Why does it have to be the same job? And what if someone's been working at the same company for say the last 2 years but got promoted to a different job within the company 6 months before having to apply for an extension? Does that mean they'd have to go home?)
And of course once they switch to a work permit, they're now tied to their employer, eliminating one of the biggest benefits of having HSMP in the first place.
I appreciate that at least they *have* some transitional arrangements in place for existing HSMP holders, but those have very big cracks through which many hard-working people could and will fall, meaning after having made a new life for themselves in the UK they're now essentially being kicked out. It's just really, really unfair.