Statement by the Scotland Office on Real Time Worlds going into administration.
A Scotland Office spokesman said:
“We are sorry to see Realtime Worlds going into administration and hope a buyer can be found for the company. The administrator has said the company’s difficulties appear to be the result of commercial market forces. The tax break for the industry outlined by the previous administration was only a proposal and one which was never enacted. It is misleading to talk of any tax relief having been scrapped for the games industry. It would also be impossible to evaluate how much the proposed tax break - which was subject to state aid approval - would have benefitted an individual company.”
“The reforms to business taxation announced in the Budget mean that by 2014 the UK will have the lowest corporation tax rate in the G7, including France and Canada.”