Hi Smurfy,
Scenario 1,
U don't need to renew the passport, But the WP issue to u will be 1 mth b4 the passport expiry. So it will be expired in Aug for your case. Than u need to renew the WP again. For passport renew, it can take up to 3 mths.
Scenario 2,
In my case (same as your), u can go...