Audacious pinching head of Venus bust (9)
I believe the answer is:
insolvent
'bust' is the definition.
(I've seen this before)
'audacious pinching head of venus' is the wordplay.
'audacious' becomes 'insolent' (synonyms).
'pinching' indicates putting letters inside (taking inside).
'head of' says to take the initial letters.
The first letter of 'venus' is 'v'.
'insolent' enclosing 'v' is 'INSOLVENT'.
(Other definitions for insolvent that I've seen before include "Snivel not, although you are bankrupt!" , "In the red" , "gone to the wall" , "on the rocks" , "without the means to pay" .)