Modern slavery statements
14 March 2016
Businesses with a year-end of 31 March 2016 will be the first businesses required to publish a statement under the transparency in supply chains provision.
The Modern Slavery Act 2015 requires organisations with a turnover of at least £36 million to develop an annual statement each year, detailing what steps have been taken to ensure modern slavery is not taking place in their business or supply chains.
The requirement for organisations to publish a statement was commenced on 29 October 2015. However, many organisations may not have been in a position to produce a statement immediately. Therefore, transitional provisions were included to allow organisations sufficient time to understand the requirement and produce a statement.
Businesses with a financial year-end date between 29 October and 30 March 2016 will not be required to publish a statement for that financial year of the organisation.
Businesses with a year-end of 31 March 2016 will be the first businesses required to publish a statement for their 2015-16 financial year. These organisations will be required to produce a statement covering the full financial year of the organisation. However, where an organisation has only recently undertaken activities they may choose to produce a statement that indicates that activity undertaken covers a particular part of the financial year.
Any organisation in any part of a group structure will be required to comply with the provision and produce a statement if they:
- are a body corporate or a partnership
- carry on a business, or part of a business, in the UK
- supply goods or services; and
- have an annual turnover of £36m or more.
Transparency in supply chains: a practical guide provides full details on:
- who is required to publish a statement
- how to write a slavery and human trafficking statement
- how to approve and publish the statement.