163. —
(1) Where the claimant fails to comply with regulation 160 he shall repay to the Commissioners the amount of the refund by including that amount in the box opposite the legend “VAT due in this period on sales and other outputs” on his return for a prescribed accounting period which the Commissioners designate for that purpose.
(2) Where the claimant proves subsequently in the insolvency of the debtor for—
(a)an amount consisting of the consideration, or of a portion thereof, for a taxable supply or supplies made by the claimant,
which, taken together with—
(b)the amount for which he has proved in the insolvency for the purpose of obtaining a refund of VAT,
exceeds—
(c)the outstanding amount of the consideration for a taxable supply or, as the case may be, for all of the taxable supplies made by the claimant, less the amount of the refund received by him,
he shall repay to the Commissioners the amount of the refund by including that amount in the box opposite the legend “VAT due in this period on sales and other outputs” on the return for the prescribed accounting period in which he so proves subsequently in the insolvency.
(3) If at the time the claimant is required to repay any amount he is no longer required to make returns to the Commissioners, he shall repay such refund to the Commissioners at such time and in such form and manner as they may direct.