Fine ale around that is gift (7)
I believe the answer is:
freebie
'gift' is the definition.
(I have seen 'promotional gift' mean 'freebie' so perhaps 'gift' could also mean 'freebie')
'fine ale around that is' is the wordplay.
'fine' becomes 'f' (abbreviation).
'ale' becomes 'beer' (I've seen this in other clues).
'around' says the letters should be written backwards.
'that is' becomes 'i.e.' (short for Latin 'id est', 'that is').
'beer' written backwards gives 'reeb'.
'f'+'reeb'+'ie'='FREEBIE'
(Other definitions for freebie that I've seen before include "Informally, something provided for nothing" , "Thing not charged for" , "treat" , "Something given without charge (colloq.)" , "Something complementary" .)