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English definition of “write sth off”

write sth off

phrasal verb with write
 
 
/raɪt/ verb (wrote, written)
ACCOUNTING, FINANCE to accept that an amount of money has been lost, for example, from a bad investment or a debt that will never be paid, and show it as a loss in a company's accounts: Banks accept that some of their bad debts will eventually have to be written off.
UK INSURANCE to damage a vehicle so badly that it cannot be repaired, or it would cost too much to repair: The car was completely written off. → See also write-off
(Definition of write sth off from the Cambridge Business English Dictionary © Cambridge University Press)
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