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This edition of the Technical Update covers the UK Private Capitals case for the Scale-up Reinvestment Relief as well as the FCA’s finalisation of Phase 1 of the SMCR reforms. We also highlight further calls to reform competition policy and our work urging the Government to consider reforms to the unfair dismissal cap. Finally, we highlight UK Private Capital’s new report on how private capital is key to the green transition, an inquiry into HM Treasury’s role in environment and climate policy and more.

The Minister for Nature, Mary Creagh CBE MP, highlighted the important role that Government and private capital must play to help the UK reach net zero by 2050.

Director of External Affairs Karim Palant told the Business and Trade Select Committee that without faster action to fix the domestic capital gap and unlock reinvestment, the UK risks losing its AI scale ups just as they begin to succeed.

UK Private Capital is pleased to announce Richard Swann as the new Chair of Council, the association’s board of directors

On ​6 ​April ​2026, following several years of political and Government activity and sustained engagement by UK Private Capital, the new regime for taxing carried interest comes into effect.

UK Private Capital has continued to support members and engage with the Bank of England as it conducts its System Wide Exploratory Scenario (SWES) to support an informed assessment of the industry’s resilience and contribution to the UK economy.

UK Private Capital has been championing the venture capital industry and pushing for unlocking greater domestic capital from institutions and elsewhere to back this asset class and the pipeline of companies they invest in.

This edition of the Technical Update covers an overview of the new carried interest regime, an update on tax adviser registration rules for financial services businesses and a recent consultation on uncertain tax treatments. We also highlight key areas of engagement with the FCA, including its remuneration survey and Value for Money Framework, as well as Government on national security and foreign investment, and the launch of UK Private Capital’s Sustainability Reporting Hub, and more

UK Private Capital has launched a new Sustainability Reporting Hub to help private capital firms and their portfolio companies navigate complex reporting requirements, which have increased in recent years as a result of regulatory developments and increasing institutional investor expectations.