Transfer of Asset from UK entity to a European Branch

We would like to ship a UK owned asset within a group to a branch in a European country [That branch is not set up with an EORI]. Our HQ in another European Country is set up with an EORI. The asset is been moved with the original supplier from the EU as the asset requires specialist fixing at the final destination. I am interested to hear from anyone who has undertook such a transaction since Brexit.

The asset will need an export declaration out of the UK and an import declaration into the EU. The EU has a duty relief for transfer of certain business assets which is worth checking out. A branch is unlikely to be able to have its own EORI as a branch is a part of its parent company and not considered a legal entity in most EU countries. An EORI issued in any EU country can be used throughout the EU. Your description doesn’t have enough information to give definitive answer however if the branch is part of the EU HQ then it is probable their EORI can be used by the company in all its EU locations.

Thank you Customs oldtimer. As it is not a sale. Valuation method 1 would not be used. I am wondering if depreciation costs are considered to reach the value for Customs. I can not seem to find any guidance on the transfer of an asset.

Hi,
 

I would advise contacting the Customs and International trade helpline on 0300 322 9434 . Thank you.