Believe Bill has time to pay (8)
I believe the answer is:
accredit
'believe' is the definition.
(I've seen this in another clue)
'bill has time to pay' is the wordplay.
'bill' becomes 'ac' (short for account).
'has' says to put letters next to each other.
'time to pay' becomes 'credit' (I've seen this before).
'ac'+'credit'='ACCREDIT'
(Other definitions for accredit that I've seen before include "Attribute (something to)" , "Authorise (a diplomat) to hold a post" , "Trace CID and send them with credentials" , "Certify, ascribe" , "As envoy recommend" .)