set sth (off) against sth Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “set sth (off) against sth” in the English Dictionary

"set sth (off) against sth" in Business English

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set sth (off) against sth

phrasal verb with set uk   us   /set/ verb (setting, set, set)
ACCOUNTING to use or ​record one thing, especially the ​cost of something, in ​order to ​reduce or ​remove the ​effect of another: Costs of new ​equipment or ​machinery, such as a ​computer, can also be set against ​tax. The ​rules do not ​allowsurpluses over ​bookvalue in other ​parts of the ​business to be set off against ​reductions elsewhere.

set sth (off) against sth

phrasal verb with set uk   us   /set/ verb (setting, set, set)
TAX to say that an ​amount of ​money should be considered a ​cost of your ​business and that therefore you should not ​paytax on it: You can set off anything you ​spend on ​computerequipment against ​tax.
(Definition of set sth (off) against sth from the Cambridge Business English Dictionary © Cambridge University Press)
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“set sth (off) against sth” in Business English

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