The conventional control schemes for Unified Power Quality Conditioner (UPQC) such as SRF-based control and pqtheory based control involves three-phase to two-phase transformations and complex calculations. This paper proposes an ANN controller for a Multilevel Converter based UPQC (MLC-UPQC) which eliminates the need for transformations and requirement of DSPs or FPGAs and thereby reduces the cost and complexity of the system. In this paper, a novel scheme for load reactive power sharing between shut and series converters by the adjustment of power angle is also discussed. This power angle adjustment reduces the size and cost of the shunt converter of UPQC without impacting the series converter. Simulations carried out in Matlab/Simulink support the applicability of the proposed scheme for UPQC.