Holbein had deftly survived the downfall of his first two great patrons, Thomas More and Anne Boleyn, but Cromwell's sudden arrest and execution on trumped-up charges of heresy and treason in 1540 undoubtedly damaged his career.
Though Holbein retained his position as King's Painter, Cromwell's death left a gap no other patron could fill.
It was, ironically, Holbein's portrait of Anne of Cleves which largely led to Cromwell's downfall: furious at being saddled with a wife he found entirely unattractive, the King directed all his anger at Cromwell.
 Granted, Cromwell had exaggerated her beauty, but there is no evidence that Henry blamed Holbein for supposedly flattering Anne's looks.

Apart from routine official duties, Holbein now occupied himself with private commissions, turning again to portraits of Steelyard merchants.
He also painted some of his finest miniatures, including those of Henry Brandon and Charles Brandon, sons of Henry VIII's friend Charles Brandon, 1st Duke of Suffolk and his fourth wife, Catherine Willoughby.
Holbein managed to secure commissions among those courtiers who now jockeyed for power, in particular from Anthony Denny, one of the two chief gentlemen of the bedchamber.
He became close enough to Denny to borrow money from him.
He painted Denny's portrait in 1541 and two years later designed a clock-salt for him.
Denny was part of a circle that gained influence in 1542 after the failure of Henry's marriage to Catherine Howard.
The king's marriage in July 1543 to the reformist Catherine Parr, whose brother Holbein had painted in 1541, established Denny's party in power.

Holbein may have visited his wife and children in late 1540, when his leave-of-absence from Basel expired.
None of his work dates from this period, and the Basel authorities paid him six months salary in advance.
The state of Holbein's marriage has intrigued scholars, who base their speculations on fragmentary evidence.
Apart from one brief visit, Holbein had lived apart from Elsbeth since 1532.
His will reveals that he had two infant children in England, of whom nothing is known except that they were in the care of a nurse.
Holbein's unfaithfulness to Elsbeth may not have been new.
Some scholars believe that Magdalena Offenburg, the model for the Darmstadt Madonna and for two portraits painted in Basel, was for a time Holbein's mistress.
Others dismiss the idea.
One of the portraits was of Lais of Corinth, mistress of Apelles, the famous artist of Greek antiquity after whom Holbein was named in humanist circles.
Whatever the case, it is likely that Holbein always supported his wife and children.
When Elsbeth died in 1549, she was well off and still owned many of Holbein's fine clothes; on the other hand, she had sold his portrait of her before his death.

Hans Holbein died between 7 October and 29 November 1543 at the age of 45.
Karel van Mander stated in the early 17th century that he died of the plague.
Wilson regards the story with caution, since Holbein's friends attended his bedside; and Peter Claussen suggests that he died of an infection.
Describing himself as "servant to the king's majesty", Holbein had made his will on 7 October at his home in Aldgate.
The goldsmith John of Antwerp and a few German neighbours signed as witnesses.
Holbein may have been in a hurry, because the will was not witnessed by a lawyer.
On 29 November, John of Antwerp, the subject of several of Holbein's portraits, legally undertook the administration of the artist's last wishes.
He presumably settled Holbein's debts, arranged for the care of his two children, and sold and dispersed his effects, including many designs and preliminary drawings that have survived.
The site of Holbein's grave is unknown and may never have been marked.
The churches of St Katherine Cree or St Andrew Undershaft in London are possible locations, being located near to his house.
Holbein had deftly survived the downfall of his first two great patrons, Thomas More and Anne Boleyn, but Cromwell's sudden arrest and execution on trumped-up charges of heresy and treason in 1540 undoubtedly damaged his career. Though Holbein retained his position as King's Painter, Cromwell's death left a gap no other patron could fill. It was, ironically, Holbein's portrait of Anne of Cleves which largely led to Cromwell's downfall: furious at being saddled with a wife he found entirely unattractive, the King directed all his anger at Cromwell.  Granted, Cromwell had exaggerated her beauty, but there is no evidence that Henry blamed Holbein for supposedly flattering Anne's looks.
Apart from routine official duties, Holbein now occupied himself with private commissions, turning again to portraits of Steelyard merchants. He also painted some of his finest miniatures, including those of Henry Brandon and Charles Brandon, sons of Henry VIII's friend Charles Brandon, 1st Duke of Suffolk and his fourth wife, Catherine Willoughby. Holbein managed to secure commissions among those courtiers who now jockeyed for power, in particular from Anthony Denny, one of the two chief gentlemen of the bedchamber. He became close enough to Denny to borrow money from him. He painted Denny's portrait in 1541 and two years later designed a clock-salt for him. Denny was part of a circle that gained influence in 1542 after the failure of Henry's marriage to Catherine Howard. The king's marriage in July 1543 to the reformist Catherine Parr, whose brother Holbein had painted in 1541, established Denny's party in power.
Holbein may have visited his wife and children in late 1540, when his leave-of-absence from Basel expired. None of his work dates from this period, and the Basel authorities paid him six months salary in advance. The state of Holbein's marriage has intrigued scholars, who base their speculations on fragmentary evidence. Apart from one brief visit, Holbein had lived apart from Elsbeth since 1532. His will reveals that he had two infant children in England, of whom nothing is known except that they were in the care of a nurse. Holbein's unfaithfulness to Elsbeth may not have been new. Some scholars believe that Magdalena Offenburg, the model for the Darmstadt Madonna and for two portraits painted in Basel, was for a time Holbein's mistress. Others dismiss the idea. One of the portraits was of Lais of Corinth, mistress of Apelles, the famous artist of Greek antiquity after whom Holbein was named in humanist circles. Whatever the case, it is likely that Holbein always supported his wife and children. When Elsbeth died in 1549, she was well off and still owned many of Holbein's fine clothes; on the other hand, she had sold his portrait of her before his death.
Hans Holbein died between 7 October and 29 November 1543 at the age of 45. Karel van Mander stated in the early 17th century that he died of the plague. Wilson regards the story with caution, since Holbein's friends attended his bedside; and Peter Claussen suggests that he died of an infection. Describing himself as "servant to the king's majesty", Holbein had made his will on 7 October at his home in Aldgate. The goldsmith John of Antwerp and a few German neighbours signed as witnesses. Holbein may have been in a hurry, because the will was not witnessed by a lawyer. On 29 November, John of Antwerp, the subject of several of Holbein's portraits, legally undertook the administration of the artist's last wishes. He presumably settled Holbein's debts, arranged for the care of his two children, and sold and dispersed his effects, including many designs and preliminary drawings that have survived. The site of Holbein's grave is unknown and may never have been marked. The churches of St Katherine Cree or St Andrew Undershaft in London are possible locations, being located near to his house.
Hans Holbein the Younger