Crust removed from half loaf that could take some cutting? (5)
I believe the answer is:
album
'that could take some cutting?' is the definition.
(eg a scrapbook album might contain cuttings)
'crust removed from half loaf' is the wordplay.
'crust removed from' says to take the centre (remove the casing or crust of the word).
'loaf' becomes 'bum' (both can mean to laze around).
The middle of 'half' is 'al'.
'al'+'bum'='ALBUM'
(Other definitions for album that I've seen before include "Vinyl collectible" , "A music record or a book of photos" , "Record with multiple tracks" , "Compilation of recordings" , "Book of collections" .)