Handed over about fifty for material that's checked (5)
I believe the answer is:
plaid
'material that's checked' is the definition.
(I've seen this in another clue)
'handed over about fifty' is the wordplay.
'handed over' becomes 'paid' (I've seen this before).
'about' is an insertion indicator.
'fifty' becomes 'L' (Roman numeral).
'paid' enclosing 'l' is 'PLAID'.
'for' acts as a link.
(Other definitions for plaid that I've seen before include "Tartan patterned cloth" , "Check fabric" , "Part of Scots dress or Welsh party" , "Tartan twilled cloth" , "Tartan-pattern cloth" .)