Open for investment
Puma Heritage
Estate Planning Service
An inheritance tax planning solution that seeks 100% relief after two years by investing in UK companies that qualify for Business Relief.
Seek 100% inheritance tax relief after two years with Business Relief
Established for over 12 years, the Puma Heritage Estate Planning Service helps you protect more of your estate from inheritance tax (IHT). The Service aims to provide 100% IHT relief after two years1 by investing in companies that qualify for Business Relief (BR).
The Service invests in private UK trading companies, such as Puma Heritage Ltd, with over £2 billion capital lent by Puma Heritage Ltd2 alone. With a focus on providing senior secured loans backed by real estate, loan sizes typically range from £10 million to £100 million, supporting a disciplined approach to risk and consistent returns.
Tax reliefs are not guaranteed, depend on individual circumstances and are subject to change.
Six reasons to invest
Established track record
delivering consistent returns
Consistently delivering our target return of 3% per annum, with 0% capital losses to date. Past performance is no guarantee of future results
Simple access to
the investment
By investing in companies focused on short-term secured property loans, the Service regularly generates cash, creating natural liquidity. This makes it easier for you to access your investment
Institutional-grade
lending
Our established institutional-grade in-house lending team has secured over £500 million from institutional investors. This provides reassurance that our processes, systems and controls have been thoroughly tested
Independent
expert oversight
Puma Heritage Ltd benefits from an independent Board of experienced directors with substantial lending expertise. Every loan requires the approval of the Board
Highly
diversified
Highly diversified across different geographies and sectors throughout the UK and different counterparties. This helps us maintain a conservative risk profile
Aiming to make a
positive impact on society
An investment strategy that aims to make a positive impact on communities across the UK, lending to developments that help improve social infrastructure
Optional Life Protection
Get extra peace of mind with our Optional Life Protection, which helps to cover your potential inheritance tax liability if you were to die before your investment qualifies after two years.
For a fixed additional cost, the plan can pay an amount equal to 40% of your original investment.
Explore some recent loans
Strong, consistent performance
Share price performance for growth shares since inception
share price
You can also read the annual audited figures and see historical share price data.
Five-year discrete annual performance
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Return | 3.2% | 3.2% | 3.3% | 3.1% | 3.0% |
For the 12 months to 31 March of the year shown.
Past performance is no indication of future results, and share prices and their values can go down as well as up. Please refer to the fees and charges FAQs. Figures correct at 31 March 2026 and may be subject to rounding errors. Source: Puma Heritage Ltd.
The total shareholder return is calculated using the net asset value of Puma Heritage Ltd, and is net of ongoing annual fees payable to Puma Investments. It does not take account of initial and dealing fees associated with investing in Puma Heritage Estate Planning Service. Please refer to the fees section of this webpage.
A spotlight on Q1 2026 performance
Read our latest quarterly report for a performance update, along with recent loan highlights. Past performance is no guarantee of future results.
0%
capital losses to date since inception
£2 billion+
of capital lent by Puma Heritage Ltd since inception2
17%
total shareholder return for growth shares in the five years to 31 March 2026
£60m+
loans repaid during the quarter
3%
total shareholder return for growth shares in the 12 months to 31 March 2026 3
62%
weighted average loan-to-value
FAQs
Find out more
Please contact your Financial Adviser for personalised support.
Alternatively, our team of over 20 Client Relations and Operations specialists can provide practical guidance and seamless service at every stage of your investment journey.
Further information
For all performance data: Puma Heritage Ltd. Figures correct at 31 March 2026 and may be subject to rounding errors.
1 Tax reliefs are not guaranteed, depend on individuals’ personal circumstances, minimum holding periods and may be subject to change.
2 Puma Heritage Ltd. Figures correct at 31 March 2026.
3 The total shareholder return is calculated using the net asset value of Puma Heritage Ltd, and is net of ongoing annual fees payable to Puma Investments. It does not take account of initial and dealing fees associated with investing in Puma Heritage Estate Planning Service. Please refer to the fees section of this webpage.
Risk factors
An investment in the Service carries risk and may not be suitable for all investors. Investors can only invest in the Service through a Financial Adviser who has assessed that an investment in the Service is suitable. Below are the key risks:
General: Past performance is no indication of future results and share prices and their values can go down as well as up.
Tax reliefs are not guaranteed: Tax reliefs depend on individuals’ personal circumstances and minimum holding periods, and may be subject to change.
You may lose money: An investment in smaller companies is likely to be higher risk than other investments. Investors’ capital may be at risk and investors may get back less than their original investment.
Long-term investment: An investment in the Service should be considered a long-term investment.
Potentially illiquid investment: Private trading company shares are illiquid. They are characterised by significant spreads and low trading volumes. It may prove difficult for investors to realise immediately or in full proceeds from the sale of such shares.
Life protection: Life protection for the Puma Heritage Estate Planning Service is subject to certain conditions, if these conditions are not met in full then Puma Investments will not be paid out and so no payment will be made to beneficiaries.
Figures on this page are taken from Puma Investments and are correct as of 15 April 2026 unless stated otherwise.