Financial Courts Flashcards
What are the 2 main financial courts
The exchequer and the chamber
Which financial court did Henry use
The chamber
What was the chamber
Henry would sort out his own finances in the royal chamber- meant there was no possibility of embezzlement
What was the exchequers 2 functions
To revive and pay out money and to audit accounts
Problems with exchequer
Embezzlement
Took up to a year for Henry’s money to be in circulation
What was the annual income
£113,000
What were royal estates key for
Royal income and increased through deaths and confiscations
What was the act of resumption and when was it
1486
Returns crown lands
What is still important to Henry
Feudal dues and feudal rights
How did income rise due to act of resumption
£350 to £6000
By what percentage did land revenues increase by
45% to £42000
What percentage of revenue went to the chamber
80%
What were all receipts for lands meant to be paid to
Treasurer
What did court of audit do and who was it ran by
Reginald bray
To regularly inspect accounts
How did the yield increase
Tonnage and poundage tax
