Cut off a bit (5)
I believe the answer is:
apart
'cut off' is the definition.
(I've seen this before)
'a bit' is the wordplay.
'bit' becomes 'part' (I've seen this before).
'a'+'part'='APART'
(Other definitions for apart that I've seen before include "First Christmas present from my love" , "Estranged - in pieces" , "set aside" , "divorced" , "Separately, aside" .)