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What (who) is write off - definition
SITUATION WHERE A DAMAGED PROPERTY'S SALVAGE OR REPAIR COST EXCEEDS ITS INSURED VALUE
Autos Katrina; Totaled; Total-loss; Statutory write-off
!["America"]] was completely written off after its forced ditching in the Atlantic in June 1927. Byrd and three others survived. The original destination [[Paris]] was socked in by fog making a landing impossible at LeBourget. Souvenir hunters stripped the aircraft of its fabric skin and other components.](https://commons.wikimedia.org/wiki/Special:FilePath/L'America Ver sur mer.jpg?width=200 "\"America\"]] was completely written off after its forced ditching in the Atlantic in June 1927. Byrd and three others survived. The original destination [[Paris]] was socked in by fog making a landing impossible at LeBourget. Souvenir hunters stripped the aircraft of its fabric skin and other components.")
write off
REDUCTION IN RECOGNIZED VALUE OF AN ENTITY
Write down; Goodwill writedown; Written off; Write-down; Writeoff; Writedown; Writedowns; Totalled; Write off; Tax write-off; Tax writeoff
1.
If you write off to a company or organization, you send them a letter, usually asking for something.
He wrote off to the New Zealand Government for these pamphlets about life in New Zealand.
= write
PHRASAL VERB: V P to n, also V P
2.
If someone writes off a debt or an amount of money that has been spent on a project, they accept that they are never going to get the money back. (BUSINESS)
The president persuaded the West to write off Polish debts...
PHRASAL VERB: V P n (not pron), also V n P
3.
If you write someone or something off, you decide that they are unimportant or useless and that they are not worth further serious attention.
He is fed up with people writing him off because of his age...
His critics write him off as too cautious to succeed...
These people are difficult to write off as malingering employees.
= dismiss
PHRASAL VERB: V n P, V n P as n/adj, V P n (not pron) as n/adj
4.
If someone writes off a vehicle, they have a crash in it and it is so badly damaged that it is not worth repairing. (BRIT)
John's written off four cars. Now he sticks to public transport...
One of Pete's friends wrote his car off there.
PHRASAL VERB: V P n (not pron), V n P
5.
If you write off a plan or project, you accept that it is not going to be successful and do not continue with it.
We decided to write off the rest of the day and go shopping...
The prices were much higher. So we decided to write that off...
PHRASAL VERB: V P n (not pron), V n P
6.
see also write-off
write off
REDUCTION IN RECOGNIZED VALUE OF AN ENTITY
Write down; Goodwill writedown; Written off; Write-down; Writeoff; Writedown; Writedowns; Totalled; Write off; Tax write-off; Tax writeoff
v. (D; tr.) to write off as (he was written off as a has-been)
write-off
REDUCTION IN RECOGNIZED VALUE OF AN ENTITY
Write down; Goodwill writedown; Written off; Write-down; Writeoff; Writedown; Writedowns; Totalled; Write off; Tax write-off; Tax writeoff
(write-offs)
1.
Something such as a vehicle that is a write-off has been so badly damaged in an accident that it is not worth repairing. (BRIT)
The car was a write-off, but everyone escaped unharmed.
N-COUNT
2.
A write-off is the decision by a company or government to accept that they will never recover a debt or an amount of money that has been spent on something.
Mr James persuaded the banks to accept a large write-off of debt.
N-COUNT
3.
If you describe a plan or period of time as a write-off, you mean that it has been a failure and you have achieved nothing. (INFORMAL)
Today was really a bit of a write-off for me...
N-SING
Wikipedia
Total loss
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective.
Such a loss may be an "actual total loss" or a "constructive total loss". Constructive total loss considers further incidental expenses beyond repair, such as force majeure.
Examples of use of write off
1. The NAO said that the Treasury has already been forced to write off 0.7billion of debt and is likely to have to write off a further 1.6billion.
2. That’s why Mr Write Off avoids them at all costs.
3. I wouldn‘t say write off the British thing altogether.
4. Small businesses are seeking to write off new equipment faster.
5. The administration could not afford to write off those banks.