We're still working through everything but my initial thoughts suggest we are pretty solid. Our size means the requirements aren't as onerous and our not allowing porn looks to be a good call.
As GA has said, we have been talking about this for a few days. We should have a decent idea of where we stand when the online tool becomes available next year and that will give us a better idea of exactly what is needed.
I've long had the idea of a Britiverse, where Admins of British based instances (or those worried the legislation applies to them) from a range of services can discuss any issues and this has meant we'll start reaching out beyond Lemmy soon. If anyone is interested in this, I started a Matrix space yesterday.