One-off loan waivers are capital, not income re income tax (case VI):
https://www.bailii.org/uk/cases/UKUT/TCC/2019/8.html
This has been discussed here before I recall. See:
https://www.accountancydaily.co/taxpayer-loses-ps1m-excalibur-scheme-appeal
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I hope that your critics take note of (indeed thank you for) your comments.
I doubt this one will pass the TaxTV test though.