The government has published a call for evidence on non-financial reporting. It has also published further details of the proposed reforms to employment law announced in its policy paper earlier in May 2023 on non-compete clauses and retained EU employment law on working time regulations and TUPE Regulations. These proposals build on the Smarter regulation to grow the economy policy paper which set out how the government would seek to improve regulation post-Brexit.

As discussed in our blog post here, the government is no longer proposing to repeal all retained EU law at the end of the year. Instead, it is targeting specific areas for revocation and reform.

Non-financial reporting review – call for evidence

The Department for Business and Trade (DBT), working with the FRC, has launched a call for evidence on the non-financial reporting requirements that UK companies have to comply with.

The call for evidence recognises that reporting requirements for companies have expanded over time, increasing the size and complexity of annual reports. Through an online survey, the DBT asks a series of questions relating to:

• the costs and utility of current non-financial annual reporting;
• opportunities to streamline existing annual reporting requirements;
• reporting requirements outside the annual report, including modern slavery statements and gender pay gap reports; and
• the thresholds and definitions used to determine whether companies and LLPs must comply with certain reporting...

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