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In this manuscript, we propose a single-phase UPC (universal power compensator) system to extensively tackle power quality issues (voltage and current) with an equal VAR (volt-ampere reactive) sharing approach between the series and shunt APF (active power filter) of a UPC system. The equal VAR sharing feature facilitates the series and shunt APF inverters to be of an equal rating. An SRF (synchronous reference frame)-based direct PA (power angle) calculation technique is implemented to realize equal VAR sharing between the APFs of the UPC. This PA estimation utilizes d and q axis current parameters derived for the reference signal generation of the shunt APF. An SRF-based method is highly useful for power estimations in distorted supply voltage conditions compared with other conventional methods, i.e., the PQ method. It comprises a reduced complexity and estimations with an easiness to retain two APF inverters of equal rating. A rigorous simulation analysis is performed with MATLAB/SIMULINK and a real-time digital simulator (OPAL-RT) for addressing different power quality-disturbing elements such as current harmonics, voltage harmonics, voltage sag/swell and load VAR demand with the proposed method.