Meaning of “write sth off” in the English Dictionary

"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

(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)