Time to Report: UK Releases Updated Guidance on Modern Slavery Act Compliance

The UK Home Office has released revised statutory guidance to support businesses in meeting their obligations under Section 54 of the Modern Slavery Act 2015, which requires organizations operating in the UK with annual turnover above £36 million to publish an annual modern slavery and human trafficking statement. The revised guidance is highly detailed - 81 pages - meaning firms will need time to digest and apply it to their operations.

The updated guidance outlines the core content expected in these statements and offers practical case studies and ‘best practice’ disclosures.

This revised guidance is especially timely as organizations are legally required to publish a modern slavery statement for each financial year, and to do so as soon as possible after the year-end—no later than six months following the close of the financial year.