Henry VII - Royal Finances

Acts of Attainder

Seize titles and possessions of disloyal nobles

Council learned in the law

Royal debt collectors

Crown lands - ordinary revenue

Inherited lands held by nobles

Feudal dues - ordinary revenue

Rights held by the crown to demand money

Reasons for feudal dues

Relief - Paid when receiving inheritance

Marriage - King could marry of daughters of tenants

Wardship - Control of estates of minors

Livery - When an heir takes control of their lands

Customs duties - ordinary revenue

Imports and exports

Tonnage and poundage

Tax paid on imports and exports especially wine, wool, leather

Legal dues - Ordinary revenue

Money made from fines

Bonds and recognisances

Payments made as a guarantee of good behaviour

Loans and Benevolences

King could ask for help in financial emergencies

Who organised loans and benevolences

Royal Council

Feudal dues - extraordinary revenue

Crown could demand money but for single occasions

Who paid extraordinary feudal dues

Nobles or parliament

How did Henry exploit extraordinary feudal dues

Took money for Arthur’s knighthood in 1504

Clerical taxes - extraordinary revenue

Special taxes on church

Parliamentary taxes - extraordinary revenue

Special grants to finance royal policies

How much did Henry leave his son

£113,000

How much did cloth exports increase by

60%

How much did crown land revenue increase

From 12,000 to 42,000 per year