Meaning of “write sth off” in the English Dictionary

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"write sth off" in British English

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write sth off

phrasal verb with write uk /raɪt/ us /raɪt/ verb wrote, written or old use writ

(MONEY)

to accept that an amount of money has been lost or that a debt will not be paid:

The World Bank is being urged to write off debts from developing countries.

to be able to use the cost of something you have bought to reduce the amount of tax you owe:

You might be able to write off the car as a business expense.

(Definition of “write sth off” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"write sth off" in Business English

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write sth off

phrasal verb with write uk /raɪt/ us 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.
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(Definition of “write sth off” from the Cambridge Business English Dictionary © Cambridge University Press)