Henry VII: Finance
- Created by: kvhelpme
- Created on: 21-03-17 18:37
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- Henry VII: Finances
- Bonds and Recognisance
- Payments to guarantee good behaviour
- Heavily used on Yorkist claimants
- Effective way of Controlling Nobels
- Loans and Benevolences
- Kings right to ask for financial support in emergencies
- irregular source of income
- Feudal Duties
- Traditional rights held by the crown to demand money
- Only claimed on special occasions Eg: Royal wedding
- Given by leading Nobel's
- Very effective, Henry gained £30,000 from Prince Arthur's knighthood
- Clerical Taxes
- Special taxes which the king could levy on the Church
- Clergy were exempt from paying taxes to parliament
- Only way of securing money from the Church
- Parliamentary Taxes
- Special grants of taxes by Parliament to finance royal polices Eg: military action
- Unpopular and triggered 2 rebellions
- Crown Lands
- Henry inherited all lands held by the houses of York and Lancaster
- Rented out lands to maximise both influence and income
- Act of Resumption 1486 - reclaim all lands granted away at the start of the War of Roses
- Feudal Duties
- Traditional rights held by the king to demand money
- Relief: paid when an heir received inheritance
- Marriage: Right that the king could arrange marriages of the daughters of tenants at a profit
- Wardship: control estates until heirs come of age, gaining all profit
- Payment made when an ward reaches of age and regaining his land
- Custom Duties
- Paid on goods entering and leaving the country
- Tunnage - taxes on exports
- Rose from £33,000 at the beginning of the realm to £40,000 at the end
- Poundage - taxes on imports
- Legal Duties
- Payment made from fines and appearing at court
- Bonds and Recognisance
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