Tax change: wealthy farmers could 'hoover up' land

Matt Riddington is a farmer and farm consultant based in Crowland, Lincolnshire

The new head of a rural support network has claimed wealthy farmers could "hoover up" more land following Budget changes to inheritance tax.

From April 2026, inherited agricultural assets worth more than £1m, which were previously exempt, will be liable to the tax at 20%.

Chair of the Greater Lincolnshire Forum for Agriculture and Horticulture Matt Riddington said some farmers would be forced to sell land to fund the payments, land which would be bought by wealthier farmers.

Prime Minister Sir Keir Starmer has said he understood farmers' concerns over the tax and wanted to support them.

Farmers protested in London over the tax changes in the Budget

Mr Riddington said inheritance tax bills would lead to the sale of land.

"Not only are family farms going to have to be sold off, they're going to be sold off in potentially smaller blocks to fund the payment," he said.

"We're really looking at wealthy farmers being able to hoover up more land."

The government said the inheritance tax reform would affect the wealthiest 500 estates each year, but the National Farmers' Union and the Country Land and Business Association estimated up to 70,000 farms worth more than £1m could be affected.

Mr Riddington also claimed the impact would be far-reaching.

"I think the numbers are much higher than the 500 the government has quoted. I think it's going to affect pretty much all farms at some level," he said.

The Lincolnshire forum will meet three times a year and discuss a range of issues such as planning and land use, soils and water management, regulations and tax.

Mr Riddington said the group would keep in regular contact with government ministers and officials.

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