I'm so pleased we shall be starting this project soon. I have decided to definitely knit in the round after all. I found the book Annie mentioned: Alice Starmore's Book of Fair Isle Knitting and it indeed has excellent instructions for cutting and finishing steeks. I was going to buy this book from Amazon but at £154 I thought it probably not worth it. My mother who died two years ago was a wonderful Fair Isle knitter so I thought I would take a look through her boxed up craft library and there, almost at the top, was the book I was looking for. I don't think she even suspected that her books would become so valuable.
I have also drawn the charts in colour as I found the symbols rather confusing and counter intuitive. If it is allowed I am happy to email them as a PDF to anyone interested.
All I have to do now is finish decorating the kitchen and then I shall be able to start.