Clarkslegal LLP - Solicitors in Reading and London

Legal Updates

Supply chain transparency: Modern Slavery statements now in force, check your year end date.

30 October 2015 #Employment


Section 54 of the Modern Slavery Act requiring commercial organisations, with a certain minimum turnover, to prepare a slavery and human trafficking statement for each financial year came into force yesterday, 29 October 2015.

One set of Regulations, set the minimum total turnover at £36 million. They also provide that total turnover will be determined by taking into account the global turnover of the organisation and its subsidiary undertakings. The total turnover includes the amount derived from the provision of goods and services falling within the ordinary activities of that organisation and its subsidiary undertakings, after deducting trade discounts, value added tax and other taxes.

Companies with a financial year-end from 29 October up to and including 30 March 2016 will not be required to make a slavery and human trafficking statement for the financial year 2015/16. However all organisations with a financial year ending on or after 31 March 2016 will be required to publish a slavery and human trafficking statement for the financial year 2015/16 within 6 months of their financial year-end.

The Home Office has also just published its guidance on slavery and human trafficking statements, which we are reviewing – Transparency in supply chains: a practical guide

Please contact us on how to draft your organisation’s slavery and human trafficking statement. We are finalising our precedents, including precedents for commercial agreements.

Clarkslegal, specialist Employment lawyers in London, Reading and throughout the Thames Valley.
For further information about this or any other Employment matter please contact Clarkslegal's employment team by email at employmentunit@clarkslegal.com by telephone 020 7539 8000 (London office), 0118 958 5321 (Reading office) or by completing the form on this page.

Read more articles

Contact

Employment team
+44 (0)118 958 5321