write sth off
phrasal verb with write verb uk/raɪt/ uswrote | 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.
INSURANCE UK
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