This edition of the Policy & Technical Update covers UK Private Capital’s responses to a number of consultations, including on the taxation of UK resident members of US LLCs, uncertain tax treatment, and reporting payments to participators. We also highlight the CMA’s consultation on draft revised guidance for merger efficiencies, and our response to the consultation on the UK’s corporate re-domiciliation regime. Finally, we cover our developing AI and data governance guidance as well as the FCA’s publishing of their findings from the Transition Finance Pilot.