englishal
I think you need to think this through a bit more before you ring the tower, or they might be mightily confused
You seem to be suggesting a melange of an IFR approach with a visual "go around" from decision height (or altitude depending on the type of IFR approach.)
As far as I am aware, it is customary to fly a practice IFR approach and then then the published IFR missed approach procedure - this so that everyone knows what you are going to do and so that ATC can provide safe separation between VFR/IFR traffic.
If you were to fly some VFR approaches under the hood and go around at decision height/altitude and recoiver into a VFR circuit, then that would work to some extent as a learning experience, unless something went wrong (e.g. you had an airprox) and questions were asked about how you (as P1) were discharging your responsibilities for the safety of the aircraft and occupants.
My view would be to do the job properly and practice some IFR approached with an instructor as P1. It will be more expensive, but far better/safer.
F3G
PS: From personal experience, I have had an incident on a practice ILS approach, where other traffic flew through the approach (quite legally, since we were outside the ATZ) and a number of questions were asked of both parties afterwards. As I was flying with an instructor and we had booked the approaches and were under ATC control, we were completely exonerated.