The Budget came out on Wednesday and there's one part of it you need to know about if you're going to be sending deals to investors. From April 2027, landlords who own property in their own name will pay 24%, 44% or 49% tax on their rental profit, depending on their tax band. Today it's 20%, 40% and 45%. Landlords who buy through a limited company aren't affected, because a company pays Corporation Tax instead. Stamp duty and Capital Gains Tax haven't changed. You might be thinking, I'm not a landlord yet, so why does this matter? Because your buyers are. Every investor you speak to over the next few months will have seen the headlines, and some of them will ask you if the numbers still stack up. Expect to hear "should I buy this in a company?" a lot more. And that’s why you should keep an eye on the Budget changes for how they affect not just you, but your clients, investors etc. Personally, I think this cuts both ways for sourcers. Some landlords will have had enough and sell, which means more stock for you to find. The investors who stay will be pickier, so the deals you send need to be strong ones. We'll go through this and a lot more on the kick-off call on Tuesday 3rd November. I'll fill you in on what's happening in the community and what's coming next, and there'll be plenty of time for your questions. I'd love to see you all there. Thanks, James