Hand over a gift (7)
I believe the answer is:
present
I believe this is a double definition.
'hand over' is the first definition.
(thesaurus)
'a gift' is the second definition.
(present is a kind of gift)
(Other definitions for present that I've seen before include "Introduce < and compere < tense" , "Reveal < a gift" , "Serpent (anag.)" , "Give - what's received at Christmas?" , "In attendance with award?" .)