Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 115

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 115
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 out herein, this summary does not detail the U.K. income tax, corporation tax or capital gains tax consequences of acquiring, holding or disposing of notes or ADSs (including on the conversion of the notes).**

#### U.K. Withholding Tax on Interest
Under U.K. law, there is generally an obligation to withhold or deduct an amount for or on account of U.K. income tax from payments of interest where the interest in question arises in the United Kingdom. The interest payable on the notes arises in the United Kingdom for these purposes.

However, the Issuer intends to rely on the exemption from such obligation to withhold or deduct U.K. income tax that applies to interest paid on “quoted Eurobonds” (provided in section 882 of the U.K. Income Tax Act 2007 (“ITA 2007”)). The notes should constitute quoted Eurobonds within the meaning of section 987 ITA 2007 provided they are issued by a company, carry a right to interest and continue to be listed on a “recognised stock exchange” within the meaning of section 1005 ITA 2007. Under current HMRC published practice, the Exchange is a recognised stock exchange for these purposes and the notes will be treated as listed if they continue to be listed and admitted to trading on the Exchange. While the notes continue to be quoted Eurobonds, payments of interest on the notes may be made without withholding or deduction for or on account of U.K. income tax.

If the notes cease to be listed on a recognised stock exchange, U.K. income tax at the basic rate (currently 20%) will be required to be deducted from payments of interest on the notes, subject to any direction to the contrary from HMRC in respect of such relief as may be available pursuant to the provisions of any applicable double taxation treaty and any other exemption which may apply.

#### U.K. Withholding Tax on Dividends
Payments of dividends to holders of ADSs will not be subject to withholding or deduction for or on account of U.K. tax.

#### U.K. Direct Tax
A holder of notes or ADSs which is not resident for tax purposes in the United Kingdom should not normally be liable to U.K. capital gains tax or corporation tax on chargeable gains direct taxation on a disposal (or deemed disposal) of notes of ADSs, nor on the receipt of interest (by way of assessment) on the notes or dividends on the ADSs, unless the person is carrying on (whether solely or in