In arrears? Ring branch (5)
I believe the answer is:
owing
'in arrears?' is the definition.
(I've seen this in another clue)
'ring branch' is the wordplay.
'ring' becomes 'O' (letter resembling a ring).
'branch' becomes 'wing'.
'o'+'wing'='OWING'
(Other definitions for owing that I've seen before include "Unpaid" , "(Of money) outstanding" , "Unsettled; on account" , "Undischarged" , "Still outstanding" .)