Hearth tax and became widespread in the 14th century when the royal finances were unable to bear the rising costs of war and state agents. In particular, "fouages" were levied in 1342 and 1349. The "hearth-penny" was an Anglo-Saxon term for "Peter's pence". In England, hearth tax, also known as hearth money, chimney tax, or chimney money, was a tax imposed by Parliament in 1662, to support the Royal Household of King Charles II. Following the Restoration of the monarchy in 1660, Parliament calculated that the Royal Household needed an annual income of £1,200,000. The hearth tax was a supplemental tax to
Hypothecated tax Hypothecated tax The hypothecation of a tax (also known as the ring-fencing or earmarking of a tax) is the dedication of the revenue from a specific tax for a particular expenditure purpose. This approach differs from the classical method according to which all government spending is done from a consolidated fund. Hypothecated taxes have a long history. One of the first examples of earmarking was ship money, the tax paid by English seaports used to finance the Royal Navy. Later, in the 20th century, the hypothecated tax began to be discussed by politicians in the United Kingdom. For example, the